The World Bank is providing a loan and GEF grant to the Republic of Moldova to implement a sustainable farming programme focused on promoting agricultural exports through the enhancement of sustainable land management practices.
1 May 2012: The World Bank has approved a US$18 million credit and US$4.4 million Global Environment Facility (GEF) grant to provide funding for a programme in Moldova aimed at supporting the competitiveness of the agro-food sector.
The main goals of the Moldova Agricultural Competitive Project are to modernize the food safety management system, create more market accessibility for farmers, and mainstream agro-environmental and sustainable land management (SLM) practices. The World Bank and GEF funding will also serve to provide regulatory and institutional support for agricultural growth and export competitiveness.
According to the World Bank, the project will not only support Moldova’s economic growth model, but it will do so in conformity with the principles of sustainable growth. It is expected to generate environmental benefits, such as carbon sequestration, reduced land degradation and pollution from agro-chemicals, and better soil management practices. [World Bank Press Release]