Ministry of Agriculture to develop new financial instruments to further support farmers

Chisinau, Aug 2 /MOLDPRES/- The development of new state-guaranteed financial instruments to provide additional support to farmers is a new solution proposed by the authorities and discussed yesterday at the Ministry of Agriculture and Food Industry (MAIA) at a meeting with representatives of commercial banks in Moldova.

The talks took place in the context of the challenges faced by drought-affected farmers and its impact on their ability to meet their financial obligations. During the discussions, the need to develop new instruments to support this category of farmers was emphasized.

State-guaranteed financial instruments to provide additional support to farmers would include credit facilities tailored to their specific needs. They would ensure access to the financial resources needed to face climate challenges and to continue farming.

Another idea being discussed is the creation of a mutual fund within the future Chambers of Agriculture to be managed exclusively by farmers. 

The drought has wreaked havoc in the agricultural sector this year as well, with the southern region of the country being the worst affected. In this area, the rate of crop damage has reached up to 100%, as confirmed by several assessments by MAIA specialists and researchers.