Over 63,000 ha of degraded land and forests to be rehabilitated with EU financial support

Chisinau, Dec. 4 /MOLDPRES/- 200 million euros will be invested in the growth of forests and strengthening the resilience of forest ecosystems in different regions of Moldova. The committee on economy, budget and finance will propose to the Parliament to ratify the financing contract between Moldova and the European Investment Bank for the implementation of Moldova Forest Development Program.

Thus, our country will benefit from a €200 million loan. The money will be invested in the expansion of forests and rehabilitation of degraded forest strips on a total area of 63,200 hectares. Over the next 30 years, this will lead to reducing around 12 million tons of carbon dioxide.

The financial resources are also earmarked for strengthening forest infrastructure for the transportation of timber and the creation of forest depots and forest access roads. This will facilitate the population's access to wood products harvested in the process of sustainable forest management. The project's implementation will result in the creation of over nine thousand permanent or temporary jobs.

The loan will be granted for a period of 30 years, including a grace period of up to eight years. The project's implementation requires a total investment of 435 million euros.