The World Bank’s Board of Executive Directors approved a US$10 million IDA credit to the Republic of Moldova for the Moldova Agriculture Competitiveness Project 2nd Additional Financing Project, IPN reports.

Alexander Kremer, World Bank Country Manager for Moldova, said that this project will help ordinary people in the countryside get jobs, even in difficult economic times.

The new Moldova Agriculture Competitiveness Project 2nd Additional Finansing  complements and builds upon the results of two earlier projects – the Moldova Agriculture Competitveness Project and the Moldova Agriculture Competitiveness Project Additional Finansing component.

“The implementation of the original Moldova Agriculture Competitiveness Project provided an excellent platform for better understanding of inter-dependencies between capital-intensive modern agricultural production technologies and increasingly demanding agro-food marketing chains. This has led to a request from the Government of Moldova to scale up the project’s market access activities via this additional financing,” said Anatol Gobjila, the Task Team Leader of the project.

“This project will help Moldova’s agriculture and food production sector modernize and integrate into the international markets,” he stated.

Since Moldova joined the World Bank Group in 1992, over US$1 billion has been allocated to approximately 60 projects in the country.