On July 20, Moldova ratified an agreement with the International Bank for Reconstruction and Development on a loan of 50.1 million euros for agriculture. These financial resources will be used to implement the Investing in Governance, Growth, and Sustainability in Agriculture (AGGRI) project.
The goal of the AGGRI project is to support public agricultural services, stimulate market-oriented growth, and increase the resilience of beneficiaries to expand access to irrigation services. The project also provides rapid response measures to possible crises or emergencies.
This financial assistance will bring several significant economic benefits. Firstly, the project will create new jobs, which will positively affect the employment and living standards of the local population. Secondly, support for the agricultural sector will strengthen its resilience to climate change, an important factor for rural development. Thirdly, the introduction of advanced agricultural practices will increase the productivity and efficiency of this sector. In addition, the project will contribute to the development of ecological animal husbandry, which is important for the conservation of natural resources and biodiversity.
It is planned to complete the implementation of the AGGRI project by September 2029. This initiative contributes to the balanced and sustainable development of agriculture, which is a step towards improving the economic situation in Moldova and the well-being of its inhabitants.