WATCH: State Department spokesperson Ned Price holds news briefing

State Department spokesperson Ned Price holds a news briefing on Thursday following reports that the United States will provide an additional $500 million in financial assistance to Ukraine to help it sustain salaries, pensions and other government programs.

The event is scheduled to begin at 2 p.m. ET. Watch Price’s remarks in the player above.

Treasury Secretary Janet Yellen made the announcement after meeting Ukrainian Prime Minister Denys Shmyhal, along with Deputy Secretary Wally Adeyemo and Ukrainian Finance Minister Serhiy Marchenko.

The new funding comes on top of $500 million in economic aid that President Joe Biden unveiled in March.

The announcement comes against the backdrop of International Monetary Fund and World Bank spring meetings dominated by conversations over how to manage the spillover from Russia’s war in Ukraine.

Yellen says her walk out of a G-20 meeting on Wednesday to protest Russia’s war signaled that it could not be “business as usual,” in terms of Russian participation in global financial groups after the invasion of Ukraine.