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More farmers to be eligible for accessing financing through Moldova's Orchard project

20:37 | 08.11.2023 Category: Economic

Chisinau, 8 November /MOLDPRES/ - More farmers will be able to access financing within the project, Moldova’s Orchard. The cabinet today approved a draft decision on the starting of negotiations between Moldova and the European Investment Bank (EIB), in order to extend the criteria of eligibility within Moldova’s Orchard Project.  

„So far, financings have been provided for the horticultural and vine-growing and wine-making sectors; yet, they want these resources to be able to be accessed by a larger number of farmers with activities in animal husbandry, aquaculture, fish breeding, tourism, bee-keeping and cereal crops. The farmers who accessed financial resources of the project confirm advantages in comparison with other entities which provide investment loans. We refer here to the fact that the project provides the longest term for crediting – 10 years; the biggest financial ceiling – 5 million euros for each beneficiary; the longest grace period provided for one loan – 4 years; the most attractive interest available on Moldova’s market at the fixed interest rate at the crediting in euros,’’ the state secretary at the Agriculture and Food industry ministry, Vasile Sarban, said.      

The official also said that, to meet the demand of financing in other sub-sectors of the agriculture and food industry, up to 30 per cent of the loan’s value will be eligible to be allocated to the entire value chain of the agriculture. Other modifications of the financing contract refer to the increase in the share of financing of the Component, Laboratories, education, training and development of food security, up to 15 per cent of the loan’s value.   

The implementation of Moldova’s Orchard project started in 2016 and the contract on financing between Moldova’s government and the European Investment Bank had a value of 120 million euros. Ninety two million euros has been turned to account so far. The investment activities might be extended till May, 2025, in order to turn to account all resources.      




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