Moldova to benefit from financial support on behalf of European investment Bank for extension, rehabilitation of forests

Chisinau, 29 August /MOLDPRES/ - The European Investment Bank (EIB) will provide Moldova with a loan worth 200 million euros for the extension and rehabilitation of forests.   

At a meeting on 28 August, the members of the commission for foreign policy and European integration approved the evaluation notice on the starting of the negotiations on the draft Contract on financing between Moldova and EIB for the implementation of the Project, Programme on Development of Forests in Moldova.   

The programme, the period of implementation of which is scheduled for the years 2024-2028, will support investments for the improvement of the governance and the framework of regulation in the forest sector, consolidation of the institutional and technical capacities, as well as of the capacity of production of the forest material of reproduction and afforestation. The programme also envisages the restoration and rehabilitation of about 63,000 hectares of degraded grounds and woods. Investments will be made also in the infrastructure, equipment and instruments necessary for ensuring the sustainable management of forests.   

The loan will be provided for a period of 30 years at the most, including a grace period of up to eight years. The draft of the Contract is worked out, in order to implement the national Programme on the extension and rehabilitation of forests (PNERP) or the period 2023-2032. The contract on financing will enter into force after its ratification by Moldova’s parliament.