Moldovan government votes for ratification of agreement on financing in agricultural sector

Chisinau, 5 November /MOLDPRES/ - The cabinet members today voted for the ratification of a financing agreement (third additional financing) between Moldova and the International Development Association (IDA) for carrying out of the Agricultural Competitiveness project, signed on 1 October 2020.   

The agreement on the Third Additional Financing for the Moldova Agricultural Competitiveness Project (MAC-P), worth 13.5 million euros, was signed with the International Development Association. The accord refers to the establishment of a complete system of management of sub-products of animal origin. The component provides for the construction of an installation for the destruction/processing of animal origin waste, which is not meant for human consumption, which would be a real solution for maintaining a friendly epizootic situation in Moldova, including for the environmental protection and would facilitate Moldova’s inclusion in the list of countries with right of export of zoo-technic products to the European Union.    

Also, additional funds will be allocated to ensure the project’s efficient coordination and management, including the continuous ensuring of the financial audit, the work of the mechanism of remedying complaints, monitoring and assessment, as well as other aspects which allow implementation.    

The implementing institution is the Consolidated Agricultural Projects Management Unit (CAPMU), subordinated to the Agriculture, Regional Development and Environment Ministry and the implementation period is 2020-2024.  

The interest rate related to the loan is 0.45 annually. Additionally, a service tax of about 0.75 per cent annually is scheduled to be paid.

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