IFAD to finance new project in Moldova to improve capacity of rural areas

12:26 | 24.03.2021 Category: Economic

Chisinau, 24 March /MOLDPRES/- The International Fund for Agricultural Development (IFAD) will provide financial support to Moldova for a new project in the agri-food sector - Improving capacity for rural transformation (IFAD VIII).

According to Minister of Agriculture, Regional Development and EnvironmentIon Perju, through the activities in this project, the government aims to develop the agri-food sector, given vulnerability to a number of challenges, such as climate change, economic fluctuations, massive migration from rural areas, low incomes and labor shortage.

"With the support of partner states and willingness of the international donor community, the government aims to increase immunity of the agri-food sector and raise living standards in rural areas. That by enhancing the policies related to the agri-food segment by approving strategic documents, meant to optimize the sector development; development of water supply networks for irrigation. Also, help producers to purchase and operate irrigation equipment; to regenerate and expand the forest strips and fight illegal deforestation etc”, said Perju.

The project will be estimated at about 50.5 million euros. Of the total value of the investment, IFAD's contribution will be 20.7 million euros.

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