Contract with European Investment Bank for Moldova's Orchard project extended by two years

17:17 | 21.10.2021 Category: Economic

Chisinau, 21 October /MOLDPRES/ - The contract on financing between Moldova and the European Investment Bank (EIB) for the carrying out of Moldova’s Orchard project has been extended till 27 May 2023. The parliament today ratified the amendments to the contract on financing and to the accompanying letter.

Thus, in accordance with the amendment to the financing contract, EIB will provide the sum non-disbursed from the loan for the carrying out of the project in about 35 installments. The resources are meant for the modernization and restructuring of the value chain of Moldova’s horticultural sector through facilitating the access to the resources of crediting and leasing offered by BEI.

The financing contract with EIB for the carrying out of Moldova’s Orchard project was signed in 2014. Its value is of 120 million euros. The contract’s term expired on 23 May 2021 and its extension was necessary, in order to turn to good account the loan provided.

Photo: Parliament

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