Micro and small agricultural businesses can benefit from funding of up to €150,000

Chisinau, Nov. 7 /MOLDPRES/- The Consolidated IFAD Programme Implementation Unit (CPIU IFAD) has announced new funding for the agricultural sector in Moldova. The support of up to 150 thousand euro is intended for the modernization of micro and small enterprises in the sector.

Due to these funds, it will be possible to purchase equipment for processing, sorting, grading, sizing, packaging or labeling of agricultural products.

According to the Ministry of Agriculture and Food Industry (MAIA), the loan from IFAD resources has several advantages. 

In addition, of the total amount of the loan, €100 thousand can be allocated to finance working capital associated with the investment or independent working capital. The loans can be accessed through partner financial institutions.

"These financings are an important step in the development of a profitable agricultural business, through the transition from basic production to the processing of agricultural products," MAIA said.

CPIU IFAD was created by the Government of the Republic of Moldova for the implementation of IFAD programs after Moldova's accession to the International Fund for Agricultural Development in 1996. IFAD Program components are implemented in accordance with procedures established and approved by IFAD in agreement with the Government.