Moldova's Orchard investment programme to be extended

Chisinau, 8 October /MOLDPRES/ - The Livada Moldovei (Moldova’s Orchard) project on restructuring the horticultural sector will be extended and will include also vegetable growing in the fields eligible for financing. Agriculture, Regional Development and Environment Minister Nicolae Ciubuc made statements to this effect at a news conference today.      

„The vegetable growing is an important sector, with value added; yet, this branch, unfortunately, is not sufficiently developed. We produce vegetables, but the quantities got quite hardly supply the local market. We have a huge potential in this field, including at the export; therefore, the native vegetable growing must be developed in order to become competitive and investments are needed for this,” the minister said.     

According to the official, wine-making, floriculture, agro-tourism and other fields will be among the new sectors eligible within Moldova’s Orchard programme. “Producers will be able to benefit from investments in infrastructure, on open and protected grounds, irrigation, heating, frigorific systems, etc,” Nicolae Ciubuc said.  

Moldova’s Orchard is a crediting line provided by the European Investment Bank to Moldova’s government which, for its part, provides this loan to participating commercial banks. The crediting line became operational in 2016 and is valid for a five-year period. The loans Moldova’s Orchard come with assistance provided as support and consultancy to work out investment projects and free of charge technological support.  

According to the director of the programme’s implementation unit, Iurie Brumarel, the programme is advantageous through fiscal facilities, long crediting term, grace period up to four years, competitive interest rate (4-5 per cent for loans in euros, 7-8 per cent for credits in Moldovan lei), minimum sum of loan of 5,000 euros, big credit ceiling for implementing one project (five million euros at the most), possibility of financing agricultural equipments in leasing, possibility of buying second-hand equipment (up to ten years old), national coverage area, etc.    

The Moldova’s Orchard project on restructuring the horticultural sector has an overall budget of 120 million euros. So far, over 30 million euros has been turned to account, from which 45 producers of Moldova benefited.  

(Reporter L. Grubii, editor L. Alcaza)