Moldova will receive $23.7 million, including $5.5 million as a grant, to develop and modernize its agriculture, after a formal document acknowledging the Financing Agreement with the International Fund for Agricultural Development was published today in the Official Gazette.
The $18.2 million loan is offered for a period of 25 years, with a grace period of 5 years, at a fixed interest rate of 1.25% per year and a service charge of 0.75%.
Having a duration of six years, the Agreement will enable the construction of 24 water supply networks for irrigation purposes with a total irrigation capacity of 1,400 hectares for 75 agricultural producers.
To enable the cultivation of high added-value crops on the irrigated land, over 700 jobs will be created, including 280 permanent.
Moreover, to facilitate the farmers’ access to the cultivated land, 12 segments of road will be rehabilitated, which will benefit 50 companies and over 1,200 families from 12 villages.
Additionally, reservoirs with a total surface area of 30 hectares will be built or repaired, and 200 hectares of windbreaks will be planted or rehabilitated.
