More than 300 economic entities that work in horticulture and over 52,000 peasant farmsteads will be able to raise investment loans at an advantageous interest rate, repayable in at most ten years, with a grace period of up to four years. This is possible within the program to restructure the horticulture sector of Moldova “Livada Moldovei” (“Moldova’s Orchard) that was launched in Chisinau, IPN reports.

The project is implemented with the financial support of the European Investment Bank. A loan can be of at least €5,000 and can be used to modernize and mechanize primary production processes in horticulture, to equip the irrigation and anti-hail systems and to diversify the market for Moldovan fruit.

Attending the launch, Prime Minister Pavel Filip said agriculture is a priority sector for Moldova. To have a profitable business, the entrepreneurs must use new technologies in their work. The project to develop the horticulture sector is important for the whole country as it offers the farmers the possibility of extending their businesses and of modernizing the used infrastructure.

The project has a total budget of €120 million, which must be used until 2021.