.
.
.
.

Germany plans 40 million euros in budget aid to Moldova

Published: Updated:

Germany plans to give Moldova 40 million euros ($40.2 million) in direct budgetary support to help protect the poorest people in Europe’s poorest country from breakneck inflation, Germany’s foreign minister said.

Moldova, a country of three million sandwiched between Romania and Ukraine, has taken in more refugees from Russia’s invasion of Ukraine than any other country in proportion to its population.

For all the latest headlines follow our Google News channel online or via the app.

“This small democratic republic has done everything possible to help refugees from Ukraine,” said Annalena Baerbock at a donor conference in Bucharest.

“The Foreign Office and Development Ministry will give 40 million euros in budget support,” she added.

The support must still be approved by the German parliamentary budget committee, she said.

The European Union last month accorded both Moldova and Ukraine the status of candidates for membership, in what was widely interpreted as gesture of support for two countries that are reeling from the consequences of what Russia says is not a war but a “special operation.”

The war has contributed to spiraling inflation across the region and the world, further harming Moldova’s already fragile economy.

Baerbock said Moldova needed more help to develop renewable energy sources to free it from Russian energy “blackmail.”

Read more:

China’s economy brakes sharply in second quarter, as global risks darken outlook

Hungary’s Orban says Europe ‘shot itself in the lungs’ with Russia sanctions

British sterling edges higher as UK growth beats forecasts

Top Content Trending