World Bank to provide 12-million-dollar-worth loan to Moldovan fruits producers

Chisinau, 26 May /MOLDPRES/ - The World Bank (WB) will provide a credit of 12 million dollars to apples, plums and grapes producers. The concerned provision is included in an agreement on additional financing to the Moldova Agriculture Competitiveness Project (MAC-P), signed between the Agriculture and Food Industry Ministry and WB on 21 May 2015. 

The cabinet today approved the draft law on ratification of the aforementioned agreement, the government’s communication and media relations department has reported.

This accord stipulates the earmarking of a credit worth 12 million dollars to Moldova and will enter into force on the next 90 days upon the date of signing. 

The document regards financial assistance of Moldovan apples, plums and grapes producers, hit by restrictions on export put by Russia in 2013-2014, and whose plantations do not exceed 15 hectares. The amount of compensations will be of up to 50 percent of the difference created between the fruits price till the embargo put in 2014 and the price set when the fruits were sent to be processed.

The conditions of providing compensations are stipulated in the Regulation on the way of providing financial support to fruit producers, approved under Government Decision No 735 from 10 September 2014. The compensations will be given via the Agency for Interventions and Payments in Agriculture.

(Editor M. Jantovan)