The World Bank will provide US$200 million to Moldova for creating an agency that will support investment projects and projects promoting exports. The announcement was made by Deputy Prime Minister and Minister of Economy Adrian Candu in the program “Fabrika” on Publika TV channel, IPN reports.

According to Andrian Candu, the working mechanism of the future body will be agreed by December. Besides financial support, the World Bank also offers valuable expertise.

The minister of economy said the agency will play the role of a development bank intended for entrepreneurs. It will provide preferential loans at the lowest interest rates for developing businesses. The state will also contribute money for supporting investment projects of entrepreneurs from abroad.  “Many of the investors accept to come to Moldova only if we offer financial contributions and we must satisfy such requests,” he stated.

In the same program, Andrian Candu said that by November 15 the farmers will receive compensations for a part of the losses sustained as a result of the ban imposed by Russia. The Government is looking for additional resources to fully recompense the farmers next January or February.