On July 20, the Moldovan Parliament approved an agreement with the International Bank for Reconstruction and Development on a €50.1 million loan for the development of agriculture. The loan will be used to implement the Agricultural Governance, Growth and Resilience Investment (AGGRI) project.
The main objective of the project is to support public agricultural services, stimulate the growth of the market-oriented sector, and increase the resilience of beneficiaries to improved access to irrigation services. The project also provides operational interventions to respond to crisis situations.
This financing will bring several significant economic benefits. First, job creation will improve employment and living standards of the local population. Second, support to the agricultural sector will strengthen its resilience to climate change, which contributes to rural development. Third, the introduction of advanced agricultural practices will improve the productivity and efficiency of the sector. In addition, the development of organic livestock farming contributes to the conservation of natural resources and biodiversity.
It is planned to complete the AGGRI project by September 2029, which will provide sufficient time to accomplish the planned tasks and achieve the set goals. This initiative contributes to a balanced and sustainable development of agriculture, which is an important step towards improving the economic situation of the region and the well-being of its inhabitants.
