The World Bank Board of Executive Directors approved a US$10 million credit to the Republic of Moldova for the Emergency Agriculture Support Project. The proposed credit would help finance the costs associated with alleviating the emergency in the country’s agriculture sector caused by the 2012 drought, IPN reports.
According to a press release from the World Bank, the project objective is to mitigate the negative effects of the 2012 drought by helping restore corn and wheat production and prevent livestock destocking in the most affected districts. The project will support the Government’s priorities of addressing the emergency situation, reducing the risk of escalation, and facilitating recovery from the drought.
“The Moldova Emergency Agriculture Support Project would mitigate the risk that the effects of the 2012 drought could be amplified in 2013,” said Abdoulaye Seck, World Bank Country Manager for Moldova. “The project would provide cash to farmers in the most affected districts for the 2012 winter wheat campaign and the 2013 spring corn campaign.”
The project has three components: cash transfers to affected farmers; training and awareness, and project management.
Since Moldova joined the World Bank in 1992, a total of US$ 950 million have been allocated to 46 projects in the country. Currently, the World Bank portfolio includes 12 active projects with total commitments of US$ 296 million.
