Top European bank to support Programme on Development of Forests in Moldova with 200 million euros

Chisinau, 11 September /MOLDPRES/ - Moldova’s government today approved the signing of a contract on financing with the European Investment Bank (EIB) worth 200 million lei for the carrying out of the Project, Programme on the Development of Forests in Moldova. The goal of this project is to implement the actions provided for in the National Plan on the Extension and Rehabilitation of Forests for the 2024-2028 period.       

The decision to sign this contract comes as a response to the need to develop the forestry branch of Moldova, in order to align with the European standards. Also, the contract’s goal is to enhance the climate resilience of Moldova, through the afforestation and rehabilitation of areas of 63,000 hectares of forests. This will bring long-term benefits as regards the reduction of the emissions of carbon dioxide.    

The project is aligned with the Moldova’s international commitments in the field of the environmental protection, such as the Paris Agreement and the Glasgow Agreement.  

Another priority argument for this decision is the positive impact on the local economy and the creation of jobs. It is estimated that about 9,500 jobs will be created in the rural areas, thus contributing to the eradication of poverty and improvement of residents’ living conditions. The project will consolidate also the infrastructure necessary for the sustainable management of the forests, facilitating the access to wood products and improving the transport in the forest areas.  

The contract on financing will be officially signed on 17 September 2024 at the event, Moldova Partnership Platform. It marks an important step in the direction of the sustainable development and environmental protection, contributing to the creation of a solid forest framework for Moldova’s future.