The Government approved the financing agreement between Moldova and the International Fund for Agricultural Development for implementing the Inclusive Rural Economic and Climate Resilience Program (IFAD VI), and submitted it to Parliament for ratification, IPN reports.
The program is aimed at increasing the climate-resilience of the agricultural production of 6,250 farmers by improving the soil conditions of their lands through introduction of conservation agriculture and land restoration practices and innovative solutions.
It is also expected that more than 6,000 people will benefit from the rural enterprises supported by enhanced rural finance services; and about 60,000 people will benefit from improved rural roads, water supply and market infrastructure.
The total program costs are assessed at US$46.35 million, about US$26 million of which will come from foreign sources. IFAD will provide a loan of US$16.1 million at concessional terms and a grant of US$ 0.5 million. A Global Environment Facility (GEF) grant in amount of US$4.0 million will finance the investments and activities envisaged under the Climate Change Resilience component.
The program will be implemented in 2014 – 2019. The financing agreement will come into force in May or June.
