Acting head of state ratifies US$10m agreement for financing RISP II

Moldova's Acting President Mihai Ghimpu promulgated the law on the ratification of the agreement on additional financing in the amount of US$10 million for the Second Rural Investment and Services Project (RISP II) between Moldova and the International Development Agency.

The objective of the Additional Financing for the RISP II is to continue to foster post-privatization growth in the agricultural and rural sectors by improving access of farmers and rural businesses to what they need to succeed knowledge, know-how and finance, while building the capacity of the private and public institutions to ensure the sustainability of the activities.

The additional financing will increase the amount of funding for investments made available to rural beneficiaries through the existing RISP II credit line mechanism, employing the same procedures and institutional set-up that exist under RISP II (approximately 80 percent of additional financing proceeds). Under the agreement, the implementation period of the project will be extended until June 30, 2012.

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