Loans of about 16.5 million euros granted for 109 initiatives of Moldovan farmers in 2023

Chisinau, Dec. 27 /MOLDPRES/- Since the launch of Livada Moldovei project in 2016, more than 530 economic agents have received loans under favorable conditions worth 92 million euros. In 2023 alone, credits of about 16.5 million euros were granted, which financed 109 initiatives of farmers of Moldova, the Ministry of Agriculture and Food Industry (MAIA) has reported.

This year, the eligibility criteria were extended from the horticultural sector to the entire agri-food sector.

"Thus, starting in 2024, businessmen in branches such as horticulture, viticulture, animal husbandry, aquaculture and fish production, tourism, beekeeping and cereal crop sector will be able to access financing for business development under more accessible conditions - credit term of up to ten years, four-year grace period, attractive interest rate and financial cap. Another 28 million euros are available for business development", MAIA said.

According to Livada Moldovei project, fiscal facilities are granted, the application of the "Zero" VAT rate and import facilities by exempting from payment of taxes and customs procedures and excise duties on the import of machinery or services. Within the project, the minimum amount of investment allocations is five thousand euros. The credit term is a maximum of ten years with a grace period of up to four years.

The financier of the project is the European Investment Bank (EIB). The project's implementation began in 2016, and the financing contract between the Government of the Republic of Moldova and the EIB has a value of 120 million euros.