German Chancellor Olaf Scholz pledged on Monday to boost federal funding for food purchases abroad by an additional 430 million euros ($472 million) in wake of a huge rise in food prices
MOSCOW (Pakistan Point News / Sputnik - 28th March, 2022) German Chancellor Olaf Scholz pledged on Monday to boost Federal funding for food purchases abroad by an additional 430 million Euros ($472 million) in wake of a huge rise in food prices.
"We must do everything to prevent a hunger catastrophe. This year, Germany decided to unlock further 430 million, and most of it will go to the UN World Food Programme," he told a press conference in Berlin.
The Russian military operation in Ukraine has had a massive impact on food prices and supply worldwide, Scholz said. Russia and Ukraine account for a cumulative 30% of global wheat exports as well as a significant share of corn and sunflower oil sales.
