The Government decided to go around the banking system when they will distribute the €100 million loan provided by the Government of Poland for developing the agricultural and animal-breeding sectors of Moldova, Prime Minister Iurie Leanca announced in the program “Politics” on TV 7 channel, IPN reports.

The money will be distributed by the Agency for Payments and Intervention in Agriculture and the Bureau for Implementation of the Grant provided by the Government of Japan. “This loan should have been distributed through the banking system. But, taking into account the fact that the bank will charge commissions, we decided to do it through the agency of these bodies. Thus, this money will be cheaper and the recipients will pay interest of about 1% a year,” said the Head of Government.

The €100 million loan is repayable in 25 years, at an interest rate of 0.15% a year, with a grace period of 5 years.