Announcement of Moldova Emergency Drought Recovery Project on March 15, 1993

FOR IMMEDIATE RELEASE World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A.* Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 93/61 Contact: Peter Riddleberger Tel: (202) 473-1786 MOLDOVA: EMERGENCY DROUGHT RECOVERY PROJECT The following is information on a project approved by the World Bank's Board. DATE: March 15, 1993 WORLD BANK GROUP SUPPORT: World Bank loan: $26 million. The World Bank loan is for 17 years, including five years of grace, with a variable interest rate, currently 7.43 percent, linked to the cost of the Bank's borrowings. It also carries an annual commitment charge of 0.25 percent on the undisbursed balance. TOTAL COST: $31.2 million OTHER PROPOSED FINANCING: Government of Moldova, $5.2 million IMPLEMENTING AGENCY: Ministry of Finance ESTIMATED COMPLETION DATE: 1994 PROJECT DESCRIPTION: The objective of the Emergency Drought Recovery Project is to provide the government of Moldova with urgently needed resources to assist recovery from the drought by providing essential agricultural inputs for the coming season. The project will include (a) pesticides for the 1993 fruit, vegetable, and grain crops, (b) poultry feed, (c) seeds and seeding equipment, (d) spare parts for agricultural machinery, and (e) technical assistance for procurement and disbursement.