Moldova to benefit from 200 million - euro loan from European Investment Bank for expansion and rehabilitation of forests

Chisinau, 17 Sep. /MOLDPRES/- The Republic of Moldova will benefit from a 200 million - euro loan from the European Investment Bank for the expansion and rehabilitation of forests. The loan agreement was signed today within the Moldova Partnership Platform by the Ministry of the Environment, the Ministry of Finance and the National Office for the Implementation of Projects in the Environment, on the one hand, and the European Investment Bank, on the other.

The financing comes in support of the National Forest Extension and Rehabilitation Program and provides for the planting and rehabilitation of over 63,000 hectares of forests in 2024-2028. "The new forests will help reduce carbon dioxide emissions by about 12 million tons over the next 30 years, which will save about $180 million by reducing the costs associated with pollution and adaptation to climate change," explains the Ministry of the Environment.

The project is also expected to generate over 10,000 forestry jobs in rural areas.

The National Forest Extension and Rehabilitation Program, initiated by President Maia Sandu, aims to rehabilitate 145,000 hectares of forests and expand Moldova's forest cover to 15% by 2032.