The World Bank (WB) will allocate $15 million to Moldova for the implementation of the second stage of the rural investments and services project (RISP-II).
According to the press service of the WB Office to the RM, the WB will give a half of these resources ($7.5 million) in the form of the interest-free credit for 40 years with a 10-year grace period (the one-time commission will constitute 0.35% for Moldova, whereas it constitutes 0.75% for the other countries). The second part will in the form of a grant. The project is aimed at stimulating the agriculture growth in the post-privatization period and envisages the access of the farmers and the rural businessmen to the knowledge, their training and providing them with financial resources; as well as creating possibilities for the long-term insurance of the activities of the State and private agricultural companies. The RISP consists of four components: consulting, services for the development of agribusiness, agricultural financing, pilot testing of the consolidation of agricultural lands and project management. The project will be implemented in the course of four years, it will be launched in June 2006. The WB of one of the RM government’s main partners in promoting agricultural policies and strategies and the second stage of the project was elaborated in the context of the Economic Growth and Poverty Reduction Strategy and the «Moldovan Village» program. From 1992 Moldova became a WB, which implemented 28 projects in the total of $633 million in Moldova.