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Monday, February 26, 2024
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Bucharest

Moldova borrows money from Japan for modernizing agricultural machinery

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The Government approved the negotiation and signing of the lending agreement between the Republic of Moldova and the Japan International Cooperation Agency for implementing the Modernization of Agricultural Machines and Equipment Project. Based on this agreement, Japan will offer Moldova a preferential loan of 2 059 000 000 yen (US$ 18.6m), IPN reports.

The document is to be signed by Moldova’s Ambassador to Japan Vasile Bumacov.

The loan is repayable in 40 years with a grace period of 12 years, an interest rate of 0.1% on the purchase of machinery and a rate of 0.01% on consultancy services provided within the project.

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