As part of the Fruit Garden of Moldova project, businesses in the horticultural sector and related industries will be able to receive lease financing from the European Investment Bank, IPN reports.

According to press release of the Ministry of Agriculture, lease financing is more advantageous compared to a classic loan because farmers don’t have to put up any collateral. Other favorable conditions include an attractive interest rate, an advantageous financing period and a flexible payment schedule.

The Fruit Garden of Moldova’s project partner is Mobiasbanca – Groupe Societe Generale’s Department of Leasing. The minimum amount of financing is 5000 euros, with an interest of 5.5-6.5% in euros. Beneficiaries can demand a flexible schedule for paying back the money, according to their seasonal income.

Leasing applicants will enjoy a 0% VAT for the delivery of goods and services in Moldova. Customs fees for imported goods and services will also be waived for them.

The project for the restructuring of the horticultural sector The Fruit Garden of Moldova was started by the Moldovan government and the European Investment Bank in order to remedy structural vulnerabilities in Moldova’s horticultural sector. The goal is to improve this sector, to boost the production, processing and packaging of horticultural goods.

The project has an available budget of 120 million euros to help promote Moldovan products abroad, to diversify the country’s export markets by improving the competitiveness of production, to restructure the horticultural sector and the related industries.