Top European bank to provide 120 million euros for Moldova's Orchard project

Chisinau, 11 March /MOLDPRES/ - The European Investment Bank (EIB) will provide Moldova with a loan worth 120 million euros for Moldova's Orchard project. The government today approved a draft ratifying a financing agreement to this effect.

Among the objectives of the project, there are: endowing orchards with irrigation and anti-hail systems, post-harvest production technologies, developing horticultural nurseries to produce seedlings. The project’s beneficiaries will include about 300 economic agents and 52,000 peasant farms in the field of horticulture.

The cabinet also ruled to initiate negotiations and approve the signing of Addendum 1 to the Financing Agreement between the Moldovan government and the EU on the justice reform support programme. The document provides for a 430,000 euro decrease in the quantum of the third instalment of funding for the justice reform from 3 million to 2,570,000 euros. Instead, the amount of the fourth instalment will increase by 430,000 euros.

The government also approved a draft on the ratification of an Inclusive Rural Economic and Climate Resilience Programme between Moldova and the International Fund for Agricultural Development. The general objective of the programme is to increase rural entrepreneurs’ income and resistance to climate change.

(Reporter N. Sandu, Editor A. Raileanu)