The European Investment Bank (EIB) recently established The Fruit Garden of Moldova, a project to aid the horticultural economy of Moldova.
EIB will lend 120 million euros to Moldova's horticultural sector in an effort to increase competition and quality.
"These funds will help increase the living standards of Moldova's citizens while at the same time allowing the country to benefit from the free trade area with the EU," EIB Vice-President Wilhelm Molterer said.
Iuri Leanca, the prime minister of Moldova, welcomed the financial aid as a way to help farmers in a country where agriculture is a key economic asset.
"The Moldovan farmers, fruit and vegetable growers, will greatly benefit from this opportunity," Leanca said. "Our country has always been recognized for its agriculture products. There is, however, a lot of potential to still achieve."
Fifty-four percent of Moldova's total trade occurs with the EU. Over the course of 13 projects, EIB has loaned 586 million euros to Moldova since 2007.
More Stories
- EUROPEAN INVESTMENT BANK: Bosnia and Herzegovina: EIB provides €340 million to advance works on northern part of Corridor Vc
- ABN AMRO SERVICES COMPANY: Fempower Your Growth: like tindering with female entrepreneurs
- EUROPEAN INVESTMENT BANK: Egypt: Team Europe - EIB and Banque Misr work together to support private businesses and speed up the recovery of SMEs from COVID-19
- ASIAN DEVELOPMENT BANK: ADB, NNS Sign Loans to Build Milestone Solar Power Project in Uzbekistan
- ASIAN DEVELOPMENT BANK: $123 Million ADB Loan to Help Build Elevated Walkways in Manila
- EUROPEAN INVESTMENT BANK: Germany: EIB provides €15 million of funding to IDnow
- ASIAN DEVELOPMENT BANK: CAREC Endorses Long-Term Strategy to Promote Safe, Sustainable, and Inclusive Tourism
- EUROPEAN INVESTMENT BANK: EIB Group provides €150 million to support artificial intelligence companies
- ASIAN DEVELOPMENT BANK: ADB Approves $430 Million to Help Rehabilitate Power Distribution Networks in Uttar Pradesh, India
- EUROPEAN INVESTMENT BANK: Greece: EIB backs EUR 470 million road safety scheme