Investments of US$1 billion are needed to develop the fruit and vegetable growing sector of the Transnistrian region. The estimates were made in an economic forum held in Tiraspol, IPN reports, quoting the local press.

The investments are needed to rehabilitate the irrigation system, to build cold storage facilities and to purchase agricultural machinery.

According to Transnistrian economic experts, Transnistria possesses 198,000 hectares of farmland. Of this area, 90% is used to grow grain crops, which do not necessitate major investments, but the profit is lower compared with the one that can be made from growing fruit and vegetables.

Local experts said the Russian investments are a solution for revitalizing the agricultural sector. These could be attracted by loans released by Russian banks on condition that the agricultural products are exported to the Russian Federation.