The World Bank’s Board of Executive Directors approved a financing package of$15 million to the Republic of Moldova for the Third Additional Financing for the Moldova Agriculture Competitiveness Project (MACP), which will support the modernization of the country’s food safety system, IPN reports.
A press release issued by the World Bank Office in Moldova says Moldova’s predominantly agriculture-based economy relies heavily on agricultural production and agri-processing in Europe and Central Asia region. Given the prominence of the sector, EU standards compliant food safety and quality control systems are essential for the continuous growth of the sector, exports, public health considerations and environmental protection.
Anna Akhalkatsi, World Bank Country Manager for Moldova, said the current methods and patterns of disposal of animal waste in Moldova are not compliant with international best practices and thus result in significant public health and environmental risk. “We hope that this Additional Financing will serve as a stimulus for increased economic activity in the agriculture and food sectors, as improvements in food safety will broaden prospects for increased and more diversified production both for domestic and export markets of dairy, meat and derivative products,” stated Anna Akhalkatsi.
In addition to addressing the consequences of the COVID-19 crisis through its contribution to the broader economic recovery and resilience of the agri-food sector, the Third Additional Financing will help Moldova contribute to reductions of greenhouse gases and establish several vectors for climate change mitigation through reduced generation and emission of greenhouse gases.
Since its approval in 2012, MACP and its Additional Financings have helped Moldova’s efforts in strengthening export competitiveness, attracting investment and enhancing access to premium food export markets.
