OREANDA-NEWS. June 18, 2010. The government of Moldova approved ratification of Compact agreement with the U.S. stipulating a grant of USD262 million to our country. The document was signed on January 22, 2010 and stipulates that Moldova will receive from the U.S. Millennium Challenge Corporation within 5 years.

The grant of USD 262 million for investment projects on reconstruction and modernization of roads and installation of irrigation systems in agriculture. This USD 132.8 million of the total grant amount provided for the rehabilitation and upgrading of roads, and USD 101.8 million will be used for installation in the basins of the rivers Dniester and Prut 11 modern centralized systems of irrigation, as well as to open lines of credit to farmers in post-harvest for product processing, storage, and sale.

This component of the Compact program is to help to increase incomes of Moldovan population engaged in agriculture by promoting productivity and improved methods of realization of agricultural products with high added value. The rest funds will be used to monitor and assess the impact of the program, its administration and auditing.

The newly created in the country Millennium Challenge Moldova will be responsible for the process of preparing and implementing programs and projects funded by the Millennium Challenge Corporation.