More than 63 thousand hectares of degraded lands and forests will be rehabilitated in Moldova with the financial support of the European Union. The Parliament ratified the financing contract with the European Investment Bank for the implementation of the project "Forest Development Program in Moldova". Moldova will thus benefit from a €200 million loan, IPN reports.
The money will be invested in the expansion of forests and the rehabilitation of degraded forest strips on a total area of 63 200 hectares. Over the next 30 years, this will generate reductions of some 12 million tons of carbon dioxide.
The financial resources are also earmarked for strengthening forest infrastructure for the transportation of timber and the creation of forest depots and forest access roads.
According to the authorities, more than nine thousand permanent or temporary jobs will be created thanks to the implementation of the project.
The loan will be granted for 30 years, with a grace period of up to eight years. The implementation requires a total investment of 435 million euro.
