The D.O. Monterrei and ABANCA renew their collaboration and give answers to the sector

C.R.D.O. Monterrei and ABANCA strengthen their joint work and renew the collaboration agreement they maintain in force. The financial institution and the Regulatory Council advance a new step in their strategy of engagement with the wine sector in Galicia, which is especially relevant in the productive economy of the province of Ourense.

The president of C.R.D.O. Monterrei, Lara de la Silva, and the zone director of ABANCA in Ourense Sur, María José Pérez, have been commissioned to sign today in Verín the new text and activate the new credit options designed to meet the needs of winegrowers and wineries belonging to this denomination of origin.

The catalogue includes an offer created specifically for this group, with improved conditions in the contracting and with products adapted to their demands. To meet the most pressing needs, the winegrowers of C.R.D.O. Monterrei will have access to a credit account designed to finance the expenses of fertilizer, pruning and other aspects of the activity of the sector. They will also have a period of up to five years, which will allow them to save on notary fees.

The producers of the D.O. Monterrei will also opt for products such as foreign trade lines, financing by leasing, confirming, factoring, guarantees and advances of subsidies or taxes. Also, in the case of launching investments to improve the competitiveness of their farms, grow or face strategic challenges, the collective will have other solutions such as specific loans with long repayment periods and low interest.

On the other hand, they will be able to enjoy the official financing formulas that the bank includes in the agreements with various public bodies, such as Line ICO – COVID 19, which adjusts the new demands due to the health situation that we are living. Without forgetting, sector-specific insurance, such as the AGRO Seguro line, Farm Insurance or Bodegas SMEs, among other issues.

“With the renewal of this agreement we seek that our winegrowers and wineries can opt for products and services that are useful for their daily operation,” said the president of the C.R.D.O. Monterrei, Lara Da Silva, “We are also at a time when it is important that we all join forces to preserve the stability of the business fabric, especially if we talk about a sector like ours, which is paramount in the economy of the Monterrei region”.