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In 2023, approximately 16.5 million euros in credits were granted for 109 initiatives by farmers in Moldova. Since the launch of the Orchard of Moldova Project in 2016, over 530 businesses have received favorable condition credits totaling 92 million euros. In 2023 alone, credits amounting to about 16.5 million euros were granted, funding 109 initiatives by farmers in the Republic of Moldova, as citing the Ministry of Agriculture and Food Industry (MAIA).
This year, eligibility criteria were expanded from the horticultural sector to the entire agri-food sector.
“Starting in 2024, business people in branches such as horticulture, viticulture, animal husbandry, aquaculture, fish farming, tourism, beekeeping, and the cereal crop sector will be able to access funding for business development under more accessible conditions – a credit term of up to ten years, a grace period of four years, attractive interest rates, and financial limits. An additional 28 million euros are available for business development,” states MAIA.
According to the Orchard of Moldova project, tax incentives, the application of a “Zero” VAT rate, and import facilitations through exemption from customs duties and excise taxes on the import of equipment or services are granted. Under the project, the minimum value of allocations for investments is five thousand euros. The credit term is a maximum of ten years with a grace period of up to four years.
The project’s financier is the European Investment Bank (EIB). The implementation of the Orchard of Moldova Project began in 2016, and the financing agreement between the Government of the Republic of Moldova and the EIB has a value of 120 million euros.