The project “Moldova’s Orchard”, which is aimed at modernizing production in the horticultural sector, is to be launched during a month. In this regard, the European Investment Bank provides a loan to the value of €120 million for the fruit growers and processors to be offered a number of financing instruments, IPN reports.

“The project covers the production and processing of fruit, berries and walnuts. The horticultural enterprises will enjoy a number of financing instruments. There will be a leasing component, similar to that launched within the Wine Sector Restructuring Program “Road of Wine”. We will also negotiate the allocation of a part of the loan for purchasing fruit,” said the executive director of the Wine Sector Restructuring Program Iurie Brumarel.

The 120 million are repayable in 12 years. The loans for fruit producers will be repaid in ten years, with a grace period of four years. “Currently, the fruit growers and processors attend training courses to understand how to use the lending instruments. A lending textbook is being worked out,” stated Iurie Brumarel.

He also said that this important project is to be launched in March.