The International Fund for Agricultural Development (IFAD) will financially support the farmers vulnerable to climate change, the small and medium-sized businesses and young and female entrepreneurs of Moldova. In this regard, Deputy Minister of Agriculture and Food Industry Iurie Usurelu and IFAD President Gilbert F. Houngb signed a financing agreement for implementing the Rural Economic and Climate Resilience Program (IFAD VII) in Rome on April 11. The IFAD assistance consists of US$18.2 million lending sources, US 500,000 worth of grants and US$5 million in an additional grant provided through the IFAD Small-Scale Agricultural Development Project, IPN has learned from the Ministry of Agriculture and Food Industry.

IFAD Country Program Manager Tarek Kotb said the agriculture and business sectors are the driving forces of change and poverty reduction in the Republic of Moldova, but there are particular constraints in accessing financial services and infrastructure resistant to climate change.

For his part, Deputy Minister Iurie Usurelu assured that the money provided by IFAD to Moldova will be used efficiently and will go to ensure tangible results so that the young farmers and women in agribusiness fully profit from the opportunities offered by the financial instruments of IFAD.

Starting with 2000, IFAD has offered Moldova about US$109 million through its programs, providing support to over 134,000 beneficiaries.