OREANDA-NEWS. On May 14, 2009 The World Bank Board of Directors approved an additional credit to the Republic of Moldova in the amount of US10 million for the Rural Investment and Services Project (RISP) II. The additional financing will complement the total RISP II allocation of US 21 million and will be used for scaling-up ongoing project activities, reported the press-centre of World Bank.
 
RISP II objectives are:

To continue to foster post-privatization growth in the agricultural and rural sectors, by improving access of farmers and rural entrepreneurs to knowledge, know-how and finance; and

To build capacity of the private and public institutions to ensure the sustainability of the activities.

“RISP Program has been a real catalyst for start-up businesses and young entrepreneurs across Moldova. I am confident that the additional US 10 million will provide the extra support needed to foster entrepreneurship in rural areas of the country,” underlined Melanie Marlett, World Bank Country Manager for Moldova.
 
“In 2009 I will increase my production capacity and I am expecting a profit of US 13,000,” says Victor Velisca, a carpenter from Varatic village. Mr. Velisca benefited from a US 28,000 preferential credit through RISP, which enabled him to purchase modern equipment for production of industrial wooden boxes. ACSA, the RISP-supported national extension agency, helped the start-up entrepreneur design his own business plan and define his business priorities.
 
As a result of the RISP Program (RISP I and II) over 1,700 new businesses have been created, which generated 7,000 new jobs, mainly in rural areas. Annually, over 350,000 Moldovan farmers benefit from the services of the national agricultural extension agency - ACSA - established with support from RISP.
 
The RISP II Project was launched in June 2006 and is the Second Phase of a two-phase Rural Investment and Services Program, co-financed with a US \\$6 million grant from the Swedish International Development Agency (SIDA).
 
To view a multimedia profile of the project, please visit: http://go.worldbank.org/N5WR0TH4X0
For more information, please see the website: www.worldbank.org.md