IFAD To Provide $13.23 Mln To Reduce Rural Poverty in Moldova

IFAD will extend the aid under an $18.95 million programme signed with the Moldovan government. The fund will provide a $12.7 million loan and a $530,000 grant with the Moldovan authorities covering the remainder, IFAD said in a statement.

"A new IFAD-supported programme in Moldova will create job opportunities and income-generation opportunities through on and off-farm productive activities to reduce rural poverty in the country. The programme will also enhance Moldova’s horticultural value chain,” IFAD said.

It added that the programme aims to increase incomes of farmers through the development rural financial services and commercial infrastructure and through providing extension services of knowledge and technical expertise.

IFAD has so far financed four projects worth $48.2 million in Moldova.

IFAD is a specialised United Nations agency, established in 1977 to combat hunger and rural poverty in developing countries.

Agriculture generates around 19% of Moldova's gross domestic product. Farm products account for 59% of its exports. About 84% of Moldova's workforce is employed in agriculture.

($=0.776 euro)