Moldovan cabinet approves textbook of operations on implementing assistance loan provided by Poland

Chisinau, 14 September /MOLDPRES/ - The cabinet of ministers today approved a textbook of operations on implementing the 100-million-euros-worth assistance loan provided by the Polish government. The document will facilitate the getting of financing by farmers.   

The textbook was worked out to efficiently implement the project and diminish financial risks. The document sets the way of organizing the operations of re-crediting of the Finance Ministry through the selected local commercial banks, establishes the role and obligations of the sides participating in the loan’s implementation, basic conditions for the use of funds, criteria of eligibility and assessment of end beneficiaries. The Finance Ministry will approve the enterprise contracts signed by the end beneficiaries and the Polish entrepreneur only based on the decision of crediting presented by the participating commercial banks.   

At the government meeting, Finance Minister Octavian Armasu said the financial assistance would be provided to farmers with an interest of up to three percent, noting that some banks informed that the rate could be even lower.

The assistance credit amounting to 100 million euros is provided by Poland under an agreement signed between the two countries’ governments in May 2014. Although the agreement was signed more than two years ago, only several enterprises benefited from financing, given the complicated mechanism of selecting and approving projects. The cabinet ruled to pass the project to the management of the Finance Ministry.

(Reporter V. Bercu, editor M. Jantovan)