OREANDA-NEWS. August 07, 2009. The additional funding in the amount of US10 million of the RISP II project was approved by the World Bank’s Board of Directors on May 14, 2009.

The funds are allocated for 40 years with the 10-year grace period at 0.75 per cent and up to 0.5 per cent p.a. commission. The additional funding will replenish the total amount of RISP II funds in the amount of US 21 million and will be used to expand measures implemented within the framework of the project.

RISP II aims to encourage growth in the post-privatization period in the agricultural and rural sectors by improving farmers’ and agricultural entrepreneurs’ access to knowledge, know-how and financing and to strengthen private and public institutions’ long-term activity. RISP II was launched in June 2006 being the second stage of the Rural Investments and Services Program co-financed by the Swedish International Development Agency (SIDA) in the form of a US6 million grant.

Thanks to the implementation of the RISP program, over 1,7 thousand enterprises, 7 thousand new workplaces mostly in rural areas were established. Over 350 thousand Moldovan farmers annually use services of the National Agriculture Development Agency – ACSA established with the RISP’s assistance.