OREANDA-NEWS. September 01, 2008. The credit is provided for 45 years with a 10-year delay of payment at a 0.75% p.a. interest rate.

USD5.2 mln. of the total sum will be used to credit agricultural producers for them to purchase irrigative systems. The maximal amount of loans for this purpose with the elements of grants for farmers will total USD 100 thousand.

The remaining part of the credit - USD 0.8 mln. – are meant for rendering consultation services to raise the level of knowledge and opportunities of using of agricultural practices in conditions of drought, including implementation of new technologies.

The repaid money of the credit will be accumulated in the special fund administered by the Ministry of Finance. New loans will be allocated from this fund to agricultural producers for purchasing irrigative equipment.

The World Bank provided the credit in reply to the Moldovan government’s request to receive aid to overcome consequences of the 2007 summer drought, said officials from the Ministry of Agriculture and Food Industry.