The Cabinet on September 25 approved the initiation of negotiations on the signing of amendment No. 2 to the financing contract between the Republic of Moldova and the European Investment Bank for implementing Moldova’s Orchard Project signed in 2014, IPN reports.

The amendment extends the list of investment activities that can be financed by adding the processing of vegetables, development of nurseries, processing of grapes and development of agritourism. Access to financing will also be ensured for small producers of fruit, vegetables, walnuts and decorative bushes from the agricultural sector.

The EIB lent €120 million for providing financial support to producers within Moldova’s Orchard Project. The money can be accessed by lending operations or through the agency of leasing companies. The total cost of each subproject cannot exceed €5 million.