In Rome, it was concluded the Loan Agreement between the International Fund for Agricultural development (FIDA) and government of Moldova

On Tuesday, 21 February in Rome (Italy) it was concluded the Loan Agreement between the International Fund for Agricultural Development (FIDA) and government of Moldova, of 13,2 million dollars. According to reports of the Minister of Foreign Affairs and European Integration, the ambassador of Moldova to Italy, Nicolae Dudau, who signed the agreement, expressed the hope that FIDA will reply further with the same solicitude to Moldova’s necessities in solving certain long-term problems in area of rural and agricultural development, as well as preventing emergency situations, such as the bird flu. The credit is for implementing the Development Program of Rural Business and stipulates development of rural businesses, facilitating the interaction between the producer, processors and exporters of agricultural goods. The Development Program of Rural Businesses reflects plenary the fundamental aspects of the Economic Growth and Poverty Reduction Strategy and complies with the Development Program of Moldovan Village. The credit is given to Moldova for 40 years, with a grace period of 10 years and an annual interest of 0.75%. Once with this project the portfolio of FIDA investments in Moldova amount to 36 million dollars, directed to facilitate the access of rural businessmen to financial services, development of the national economy in the rural areas, poverty reduction and increasing the living standards of the village population. Within the period 2001-2005, the firs FIDA credit was received, of 8 million dollars for implementing the project rural financing and development of small enterprises. The second FIDA project in Moldova started in January 2006 and was directed towards agriculture’s revival. The loan given for implementing this project is 15 million dollars. The International Fund for Agricultural Development (FIDA) is a specialised institution of the United Nations, which Moldova joined in 1996.