Livada Moldovei project to be extended until May 2023

Chisinau, 13 October /MOLDPRES/- Economic agents working in the horticultural field will be able to access loans, in advantageous conditions, for business development, following the extension of Livada Moldovei Project until 27 May 2023, the government's communication and protocol department has reported.

The Executive approved today ratification of Amendment No3 to the Financing Agreement between the Republic of Moldova and the European Investment Bank (EIB), signed on September 21, 2021 and the Amendment to the Accompanying Letter on the Financing Agreement in order to implement Livada Moldovei Project, signed in 2014.

The unused financial means from the initial project budget will be able to be used in order to modernize the agri-food sector, being accessed through lending and leasing operations. The financial solutions will give farmers the opportunity to expand their business and will contribute to increasing the competitiveness of domestic products on the internal and external market. Therefore, horticultural and wine companies will be able to use loans for technologicalization and mechanization of production processes, endowment with irrigation and anti-hail systems for orchards and other plantations, modernization of post-harvest processes, development of nurseries for the production of local seed, and diversification of outlets.

The total budget for the implementation of the project amounted to 120 million euros, of which 59 million euros are still available. The loans within the project can be accessed at a convenient interest rate, with a maximum recovery period of 10 years. The minimum value of the loan is 5 thousand euros.

Photo: Government