 to provide a $55 million loan to the Republic of Moldova for investments in the agricultural sector. The money provided by IBRD will be allocated to agricultural and processing companies to improve their production processes and increase their capacity to access foreign markets.){kind=link}
International Bank for Reconstruction and Development (IBRD) to provide a $55 million loan to the Republic of Moldova for investments in the agricultural sector. The money provided by IBRD will be allocated to agricultural and processing companies to improve their production processes and increase their capacity to access foreign markets.
In addition, irrigation infrastructure will be rehabilitated, and centralized irrigation systems in the localities of Tudora, Tetcani, and Etulia will be renovated. The agreement also involves strengthening the capacity of public institutions involved in the process of European integration and pre-accession to the European Union, as well as the capacities of institutions that provide essential services to farmers.
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Currently, Moldovan farmers receive funding from the subsidy fund, which this year amounts to 1.5 billion lei. Farmers have repeatedly requested an increase in the fund to cope with the difficulties they face. For example, last year’s harvest was compromised by 60% due to drought. The war in Ukraine and the explosion in energy prices have also had a negative impact.
“The agricultural sector in Moldova is affected by the war in Ukraine, and the stress it is under is amplified by the severe drought that has hit the country. With this information available following the evaluation, we must ensure that no one is left behind and rely on donor support to assist vulnerable small producers and continue to help Moldova develop a resilient, sustainable, and green agri-food system,” the latest FAO report said.