Intesa Sanpaolo and the Abruzzo Wine Protection Consortium have joined forces and signed a protocol to relaunch the wine sector. In particular, an agreement was signed in Ortona to strengthen access to credit for companies in the wine sector between Intesa Sanpaolo and the Consorzio Tutela Vini d’Abruzzo, the organization responsible for the protection and enhancement of the main designations of origin subsidiary of the Abruzzo Region (such as Montepulciano or Cerasuolo d’Abruzzo).
It will thus be possible, explains the joint press release, to the consortium wine companies to take advantage of concrete support in the processes of innovation, digitization, internationalization, export, growth, management and enhancement of warehouses through specific tools and financial resources, as well as specific workshops held. by bank professionals. The agreement will allow access to a dedicated Intesa Sanpaolo offer through credit lines and short, medium and long-term loans with the possible support of subsidized finance products.
In particular, the agreement provides access for member companies to the “revolving pledge on DOC wines”, Intesa Sanpaolo’s financial solution to support the wine sector during the pandemic. The revolving pledge makes it possible to carry out a timely evaluation of the stocks of wine for aging and to convert them into guarantees useful for obtaining new credit lines. Companies can thus disinvest the precious assets kept in the cellar, which will only become marketable after years. The role of the Consortium is decisive in providing the bank with an estimate on the original price of the wine of a certain vintage, as well as on the qualitative – quantitative verification. The memorandum of understanding also provides medium-term financing for wine aging, business improvement for the purchase, construction and renovation of cellars, purchase of land and vineyards, rural properties and companies, as well as for capital investments in machinery and equipment.