OREANDA-NEWS. May 23, 2011. It provides the credit agreement signed by Moldova and the International fund of agricultural development (IFAD) which was ratified by the Moldavian parliament. According to the agreement, Moldova will obtain the credit from IFAD for a period of 40 years with a 10-year-old delay of payments under 0,75 % annual.

The project will work in Moldova in 2011-2015 Its purpose is reduction of poverty in the countryside. It provides support for development of agrarian business of needy farmers, services on rural financings, to development of agricultural infrastructure.

Microfinancing of profitable activity of poor farmers by means of loan-savings associations, financing of the small and average enterprises, and also young businessmen on village is planned.

Agreement that Denmark will allocate to Moldova for project realisation as co-funding additional grant of USD 4,5 million is reached The international fund of agricultural development is specialised agency of the United Nations which solves problems of combating hunger and poverty in rural areas of developing countries. Moldova joined to IFAD in 1996 It will be already the fifth project introduced by the IFAD in Moldova. The total sum of projects IFAD realised in Moldova, makes USD 69 million.