Germany to provide Moldova 40 million euros as the country continues to host refugees and battles inflation
Germany plans to give Moldova 40 million euros ($40.2 million) in direct budgetary support to help protect the poorest people in one of Europe's poorest countries from breakneck inflation as it continues to host Ukrainian refugees, German Foreign Minister Annalena Baerbock said Friday, News.az reports citing UNIAN.
''Moldova was in a very critical situation,'' Baerbock said at a donor conference in Bucharest. "This small democratic republic has done everything possible to help refugees from Ukraine."
Baerbock said that Moldova — a country of 2.5 million people sandwiched between Romania and Ukraine — is still hosting more than 70,000 Ukrainian refugees as a result of Russia's invasion of Ukraine.
Moldova is ''feeling the economic shockwaves of the war,'' Baerbock said, adding that the war has contributed to the country's 29% inflation rate, which is ''something many of us can hardly imagine.''
Germany's Foreign Office and Development Ministry will provide the 40 million euros to help the country develop renewable energy sources, Baerbock said, adding that the support must still be approved by the German parliamentary budget committee.