OREANDA-NEWS. May 30, 2008. WB will provide Moldova with additional financial aid for implementing the second Project of investments and services for rural area (RISP II).

This was announced by the WB team leader of the project Pierre-Olivier Colleye during the meeting with the Minister of Finance of Moldova Marianna Durlesteanu. He noted that the project should promote rural development by means of consulting services to farmers, as well as assistance in creating small businesses.

Marianna Durlesteanu assured WB representatives that Ministry of Finance will promote the new agricultural policies and strategies for rural development and micro companies financed by the commercial banks. She also said that land tax will be introduced in Moldova in 2010. RISP II Agreement was signed on April 13, 2006.

The budget of the project amounts to \\$ 21 million. In particular, WB will provide Moldova \\$ 15 million; \\$7,5 million of which will be allocated as gratuitous financial aid. At the same time, the Swedish International Development Agency has provided Moldova with the grant of \\$ 6 million. The project is implemented since June 2006 to June 2010.

RISP II includes 4 components: agricultural consulting and dissemination of knowledge, development of small and medium enterprises in rural areas, rural crediting and project management. Project RISP I, which was completed in August 2006, is considered one of the most effective projects implemented in Moldova with the assistance of the World Bank.