WB Directory Board discusses financing RISP-2 program

The Directory Board of the World Bank (WB) shall examine on Tuesday, 28 March, financing of the second stage of the Rural Investment Services Project (RISP-2). A Moldovan delegation, lead by the Minister of Agriculture and Good Industry (MAIA), Anatolii Gorodenco, was on 19-23 February at the headquarters of the WB in Washington, where it was discussed financing of RISP-2. The head of MAIA press service, Veniamin Balan, said previously that during the negotiations it was set that WB would allot 15 million dollars for financing RISP-2. It has to be mentioned that this project has as goal income increasing and poverty reduction by providing technical and financial assistance to private agricultural enterprises of rural areas. RISP-2 will include 4 parts: services and rural extension, business development in rural areas, rural financing and technical assistance in order to implement the consolidating models of plots. It is stipulated implementation of other 6 pilot-projects in different rural areas of the country, where it will be done consolidation of plots voluntarily and according to conditions of market economy, keeping the privatisation aspect. 7,5 million dollars shall be allocated as credit for a term of 40 years and a guarantee period of 10 years. The other half will be allotted as non-reimbursable financing. It is foreseen as well additional co-financing of the project with 6 million dollars from Sweden Agency for International Cooperation and Development. Last year, WB management assessed the first RISP project as one of the most succeeded projects implemented by this structure in Moldova.