European Investment Bank (EIB) is deepening its economic engagement in Moldova as it is going to increase support for agricultural investments in the country.
Besides the agreement of EIB and Moldova in the promotion of agricultural investments which was signed today, the European Bank also announced the provision €59 million by EU institutions for the improvement of the water services in the Eastern European country.
In regard with the agricultural agreement, the EIB will consider loans for eligible investment in public and private sector projects. The financing intiative will support the entire agricultural and horticulture sector, including planting, farming, post-harvest, processing and logistics. Wilhelm Molterer, EIB Vice President described the agreement between the EIB and the Ministry of Agriculture as historic. “This is a historic agreement that represents the first ever engagement by the European Investment Bank to support national agriculture in the Eastern Partnership. The Moldovan government and the EIB share the common goal to help Moldovan companies become more competitive, meet EU and international quality standards, and increase exports to foreign markets. This new cooperation in the the agriculture sector is a model for EIB engagement with other countries in the region,” Mr. Molterer said.
Moreover, EIB joined forces today with the European Bank for Reconstruction and Development (EBRD), and the European Union, to support the modernisation of water and waste water infrastructure in Moldova’s capital, Chisinau. The EBRD and the EIB will each provide loans of €24 million to the city’s water and wastewater utility S.A. Apa Canal Chisinau, while the EU will contribute a €11 million grant.
According to the press release, the funds will be used to finance the extension, rehabilitation and modernisation of the water and wastewater infrastructure. The upgrade programme will also improve the efficiency of the city’s water network, save energy and contribute towards future compliance with relevant EU directives.