WB gives $150m for rural development

Agriculture, Food and Forests minister Ilie Sarbu and the World Bank director for Romania Andrew Vorkink in Washington concluded negotiations on the financing memorandum for the development of a rural financial institution network, worth $227 million, $150 million of which will come from the World Bank.

The programme will lead to the development of rural areas, to the creation of jobs in these areas and to a cut in unemployment and poverty. The funds are aimed at the private sector and are a source of pre- and co-financing for the SAPARD programme. Mediafax