Over US$20m to be invested in enhancing agricultural competitiveness

The World Bank Board of Executive Directors on May 1 approved a US$18 million credit and a US$4.4 million Global Environment Facility (GEF) grant for the Moldova Agricultural Competitiveness Project, Info-Prim Neo reports. According to a press release from the World Bank Office in Moldova, the project aims to enhance the competitiveness of Moldova’s agro-food sector through: supporting the modernization of the food safety management system; facilitating market access for farmers; and mainstreaming agro-environmental and sustainable land management practices. “The GEF financed component will assist the Government’s actions to pilot and propagate a wide range of sustainable land management practices to reduce land degradation, said Abdoulaye Seck, World Bank Country Manager for Moldova. The proposed project will contribute to the realization of the economic growth model described in the 2011-2014 Government of Moldova Program that is based on three pillars: investment, innovation and competitiveness. It will support reforms aimed at enhancing export competitiveness, facilitating market access for farmers, supporting agricultural business development through consulting and training, ensuring regulatory harmonization with EU food safety requirements, etc. With GEF funding the project will provide regulatory and institutional support, capacity building for sustainable land management (SLM), and financial support for piloting SLM. The GEF unites 182 countries in partnership with international institutions, non-governmental organizations (NGOs), and the private sector to address global environmental issues while supporting national sustainable development initiatives. Since 1991, GEF has provided US$9 billion in grants and leveraged US$ 40 billion in co-financing for over 2,600 projects in over 165 countries. Since Moldova joined the World Bank in 1992, a total of US$880 million have been allocated to 42 operations in the country. Currently, the World Bank portfolio includes 11 active projects with total commitments of US$281 million. Areas of support include education, social assistance, e-governance, healthcare, energy, agriculture, business development, and others.