Moldova to receive 50 million euros for investments in agriculture

18:37 | 20.07.2023 Category: Economic

Chisinau, 20 July /MOLDPRES/ - The parliament today ratified an agreement with the International Bank for Reconstruction and Development (IBRD) on a loan of 50.1 million euros meant for agriculture. The financial resources will be used for the implementation of the Moldova Agriculture Governance, Growth and Resilience Investment (AGGRI) project.

The project is meant to support the goals of improving the public agricultural services, stimulate the market-oriented growth and enhance the resilience of beneficiaries to increase the access to irrigation services. At the same time, quick response actions are envisaged in case of eventual crises or emergencies.

The financial assistance will have more general benefits, including the creation of new jobs, strengthening the resilience of the agricultural sector to the climate changes, implementation of advanced agricultural practices and promotion of ecologically safe animal production, increase in beneficiaries’ revenues.

The AGGRI project is to be implemented till September 2029.

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