First applications submitted through new Emergency Agricultural Credit program approved

11:15 | 07.03.2024 Category: Economic

Chisinau, March 7. /MOLDPRES/- Entrepreneurship Development Organization (ODA) approved the first applications submitted through the new Emergency Agricultural Credit. The initiative launched on March 1 represents solid support for micro and small agricultural enterprises in the cultivation of cereals, the Ministry of Agriculture and Food Industry (MAIA) has reported.

Beneficiaries of this program have quick access to loans worth up to 500,000 lei (25 thousand euros), with a 90% guarantee from the Credit Guarantee Fund, administered by the Entrepreneurship Development Organization.

The financial resources will be used for the purchase of seeds, fuel, fertilizers, mechanized services and financial support for labor costs associated with agricultural work carried out in the spring season.

The Emergency Agricultural Credit was designed and developed by the ODA at the initiative of the Ministry of Agriculture and Food Industry. The product will be available and operational until May 31, 2024.

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