Moldova's MCC Compact will be signed in second half of January

“The U.S. Government’s Millennium Challenge Corporation (MCC) Board of Directors approved a $262 million MCC Compact with the Government of Moldova on November 30.

This means that we are only one hundred meters away from this money that Moldova needs to modernize its economy,” Prime Minister Vlad Filat said in a news conference held jointly with the U.S. Ambassador in Chisinau Asif J. Chaudhry on December 1.

The Premier said the five-year, economic development grant will improve irrigation infrastructure and management; increase the production and marketing of high value agricultural products; and rehabilitate part of the country’s national road network.

The program was negotiated by a group of experts headed by the Minister of Finance. They had been in Washington during November 2-6 and discussed all the financial and fiscal aspects and the reforms that are to be implemented as part of the program.

Moldova’s MCC Compact includes major agriculture and transport projects. The Transition to High Value Agriculture Project (US$102m) will help increase agricultural incomes of rural Moldovans by stimulating the production and improved marketing of high value agricultural products, including fruit and vegetables. The project includes plans to provide reliable water for agriculture through the repair of up to 11 large irrigation systems servicing 15,500 hectares.

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