Moldova Boosts Cereal Production with Farm Loan Program

From March 1 to April 19, 2024, a total of 226 applications were submitted for the Emergency Agricultural Loan program, according to the Organization for Entrepreneurship Development (ODA).

All applications received during this period were approved.

The program, which offers loans of up to 500,000 lei per applicant, has seen a total demand exceeding 70 million lei thus far.

This financial instrument is specifically designed to support micro and small farmers engaged in cereal production. It enables eligible farmers to secure loans with a maximum value of 500,000 lei, which benefit from a 90% state guarantee.

The program is also available to farmers with existing loans classified as substandard under the regulations established by the National Bank of Moldova.

Farmers interested in benefiting from this credit program can contact commercial banks until May 31, 2024.

Translation by Iurie Tataru

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