Moldova will receive a 1.9-million euro grant from Japan. The government on October 27 approved the draft decision to initiate negotiations between Moldova and Japan for signing the grant agreement on implementation of the Farmers Insurance with Fertilizers Project.
The agreement aims to reduce the burden on small and medium-sized farmers, affected by the consequences of the war in Ukraine, by offering cheap financial solutions to the procurement of fertilizers. Farmers will benefit from fertilizers at a reduced price, exempt from import VAT, with the possibility of paying in installments.
The project will be implemented by the Agency for Development and Modernization of Agriculture. The institution will work out jointly with the Japanese side the procedures regarding the term of the installment sales contract, the fertilizer distribution process and the expenses to be borne by the final beneficiaries.
The grant will be offered until March 31, 2024, with the possibility of extension. (Moldpres/Business World Magazine)