The World Bank will allocate additional financial assistance to Moldova for continuing the Second Rural Investment and Services Project (RISP II). Such a statement was made by the WB Team Leader for the Project Pierre-Olivier Colleye at a meeting with the Minister of Finance Mariana Durlesteanu earlier this week.

The official said that the World Bank will increase the assistance so that the Project continues to battle poverty and generate growth in rural areas by building on this success, continuing to provide advisory services to farmers, helping create micro-enterprises and providing financing through commercial banks and/or leasing companies.

The World Bank has approved the US$15.0 million RISP II for Moldova on April 13, 2006. The approved amount includes a US$7.5 million credit under IDA terms (1) and a US$7.5 million grant.

RISP II has four components: Rural Advisory Services, Rural Business Development Services, Rural Finance, Land Re-Parceling Pilots and Project Management.

The Project implementation period is four years, from June 2006 until June 2010 // Reporter.MD


Publication date: 28 May 2008   

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