Moldova could receive a US$13.2 million loan from the International Fund for Agricultural Development (IFAD) for implementing the Rural Financial Services and Marketing Program.

In accordance with the Government’s decision, Deputy Minister of Agriculture and Food Industry Ion Perju was empowered to negotiate the loan with IFAD representatives.

The program has an available budget of $13.2 million, $0.5 million out of which will be offered as grant. The program's goals are to reduce rural poverty in Moldova by creating conditions that enable the poorer and poorest members of rural society to increase their incomes, and to expand smallholder farmers' opportunities for employment and participation in competitive agricultural supply chains by making financial services more accessible to smallholders, off-farm rural women, young farmers, and off-farm entrepreneurs and processors.

The IFAD loan is repayable in 40 years with a grace period of 10 years, at a yearly interest rate of 0.75%.//REPORTER.MD



Publication date: 08 August 2008   

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