OREANDA-NEWS. October 06, 2010. Representatives of the European Investment Banks announced this at the meeting in Chisinau with Prime Minister of Moldova Vladimir Filat. As it is expected EUR 75 million loan will be allocated for a term of 12 years with a grace period of 4 years. The decision on this matter will be taken in November 2010.

The initial proposal of the EIB mission accounted for EUR 50 million for 10 years with a grace period of 3 years. The agreement on the increase of loan amount was reached after the Moldavian governmental team had proved its capacity to manage these funds on a transparent and highly efficient basis. The EIB funds will help to the implementation of investment projects in winemaking industry and support the companies from the adjoining sectors. The innovation of this project is the complex approach to the financed domain.

Particularly, the companies not only related to real wine-making, but also related direct to this process and related to the competitiveness of the final product will get the financing. Thus, the companies engaged in the field of research, quality, security and genuineness ensuring, as well as of adjoining production (production of tare, package for filling, etc.) are to be financed.

Vladimir Filat noted the importance of this project in the context of the government’s efforts aimed at provision of conditions for increase of competitiveness of Moldavian winemaking products and diversification of outlets. The premier expressed confidence that this project would be successfully implemented jointly with Moldova's partners and friends, and would become an example for other countries.