IFAD TO PROVIDE US$40 MILLION TO MOLDOVA FOR PROJECTS IN AGRICULTURE

The Executive Committee of the International Fund for Agriculture Development approved a new program for Moldova for the period of 2019-2024 at the demand of the Ambassador Extraordinary and Plenipotentiary of Moldova to Italy Stella Stingaci.

The program implies the providing of US$40 million to Moldova for implementing investment projects in rural area. It is focused on innovations, attracting young people, raising the resistance against climate change and reducing poverty in villages.

Since Moldova and IFAD started their cooperation, seven programs with the total budget worth US$120 million have been launched in the republic. Over 135 thousand people benefited from the implementation of these programs. Moldova is in top ten (out of 113 countries) in terms of the efficiency of IFAD program implementation.

Now two programs are being implemented in Moldova: the IFAD VI (2014-2020) with a budget of US$26.08 million, directed to economic-climate steadiness of the rural area and the IFAD VII (2017-2023) with a budget of US$23.7 million, directed to general steadiness of villages.

The IFAD is providing technical assistance, grants with obligatory share of the beneficiary, soft loans for projects in rural area. The assistance may be provided not only to farmers, but also to local administrations, who want to develop the infrastructure.