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The World Bank to allocate Moldova a $55 million loan for investments in the agricultural sector.

The World Bank to allocate Moldova a $55 million loan for investments in the agricultural sector.

The press service of the parliament reported this, noting that these funds will be provided to our country by the International Bank for Reconstruction and Development, a member of the World Bank Group. Members of the parliamentary commission for foreign policy and European integration approved the start of negotiations with IBRD to conclude a relevant loan agreement. With the loan from theWB, Moldovan agricultural and processing companies will receive investment support to improve their production processes and expand their opportunities for entering foreign markets. In addition, irrigation infrastructure and centralized irrigation systems in Tudora, Tetcani and Etulia will be restored. The loan agreement also provides for strengthening the capacities of the state institutions involved in the process of European integration and preparation for Moldova's accession to the European Union, as well as the capacities of the institutions that provide basic services to farmers. After negotiations and signing, the loan agreement will be proposed for ratification at the parliamentary plenary session. As reported earlier, the World Bank will implement a $55 million investment project in Moldova in the area of agricultural sector management, development and sustainability (AGGRI) to restore the livestock sector, strengthen veterinary medicine services, expand access to irrigation services. It was mentioned that, particularly, $25 million out of this loan is planned to be spent for rehabilitation of irrigation systems, and another $25 million is planned to be invested in cattle breeding sector for increasing sustainability of dairy farms, improving livestock conditions and management of animal waste, etc. The remaining $5 million will be used to strengthen the laboratory system, as well as for training and consulting services for farmers. // 21.04.2023 – InfoMarket

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