OREANDA-NEWS. December 31, 2013. The parliament ratified a loan agreement between Moldova and the European Investment Bank for financing a programme on reorganization of wine sector.

The agreement was signed in Chisinau on 23 November 2010. It was concluded as a result of the Moldovan government’s requests for assistance in reorganizing the local wineries.

The document includes provisions referring to the conditions and procedures of credit and transfer, applying interest and using credits. Also, there are provisions on setting up a unit meant to implement the programme.

Under the agreement, the credit can be used for financing the investment projects of the companies in the wine sector, excluding the possibilities to use it for covering current debts of the economic agents to commercial banks or for purchasing lands. The agreement is in force for a two-year-period.