Moldova to receive 12-million dollar loan to back farmers

15:19 | 25.06.2015 Category: Economic

Chisinau, 26 May /MOLDPRES/- The International Development Association (IDA) will provide Moldova with a 12-million-dollar loan for implementing the Competitive Agriculture Project. The government approved a draft law on ratifying the financing agreement today.

Agriculture and Food Minister Ion Sula said that the draft was aimed at mitigating restrictions imposed by Russia in 2013-2014 via offering compensations to farmers who had cultivated apples, plums and grapes. Producers having horticultural plantations up to 15 ha will be eligible within the project.

The provisions of the additional financing agreement will be implemented on the period 1 July 2015-1 July 2017. The loan is provided for 25 years, with a five-year grace period.

The draft is to be adopted by parliament.

(Reporter C. Russu, editor M. Jantovan)

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