UN rural development arm signs deal to help cut poverty in Moldova

The United Nations agency tasked with reducing rural poverty announced today that it will spend more than $13 million supporting a programme in Moldova to boost the Eastern European country’s farm and horticulture industries.

The International Fund for Agricultural Development (IFAD) signed an agreement today with Moldova to provide a loan of $12.7 million and a grant of just over $500,000, which means the Rome-based agency will fund over two-thirds of the $18.95 million programme.

The new programme will target rural financial services, develop commercial infrastructure and aim to increase the skills of farmers and horticulture producers so they can succeed more in selling their products on the national and international markets, according to a press release issued by IFAD.

The agency is now financing four separate programmes in Moldova that are collectively worth just over $48 million.