Wine producers and winemakers will be able to finance the purchase of raw materials, machinery and supplies, as well as the contracting of repairs, services and labor with a new loan from Banco Republica (BROU), who was created after an agreement between that financial entity and the National Institute of Viticulture (Inavi).
With this credit, up to 80% of the investment can be financed in both pesos and dollars in up to five years..
The bank will provide up to six months of grace to start paying the principal.
The president of Inavi, Ricardo Cabrera, told The Observer that this release “This is very good news for the sector”Mainly because It is an optional line of credit with which both producers and winemakers will be supportedwho may have help to access new technologies and tools that improve their work.
The institute and the bank agreed that Inavi will be the one to advise the financial entity, the producers and the wineries.
Cabrera commented that the BROU will not have to carry out the verifications in the establishments, “a step is saved, because the verifications will be carried out by the Inavi”he indicated.
After signing the agreement with Inavi, the president of BROU, Salvador Ferrer, expressed on Twitter: “The country bank is a relevant partner for the wine sector”.
Ferrer maintained that the BROU is responsible for 40% of the financing of this Uruguayan agricultural sector.
For his part, the undersecretary of Livestock, Agriculture and Fisheries (MGAP), Juan Ignacio Buffa, also expressed on Twitter that in signing this agreement with Inavi “once again, BROU understands that to be a development bank you have to understand the sector”.
New Inavi directory
Cabrera maintained that this loan is a great novelty that has been in the works since he assumed the presidency of Inavi, and that it was very well received by producers and winemakers.
The credit was launched this week, the same day that the institute’s new directory was presented, an act headed by the Minister of Livestock, Agriculture and Fisheries, Fernando Mattos.
The new Inavi directory was composed as follows:
The private representatives are: Carlos Cedrés and Fabio Solomita holders for the Center of Viticulturists of Uruguay and alternate Fernando Imperiale and Aramir Silva for that center.
Nicolás Monforte head on behalf of the National Association of Winemakers, and Fabiana Bracco alternates for the Association of Exporting Wineries.
Manuel Filgueira head on behalf of the Winemakers Center of Uruguay, and alternate Diego Spinoglio on behalf of the Uruguayan Federation of CREA Groups.
Julio Giménez, holder for the National Organization of Winemakers, and Juan Pablo Bouza alternate representing the National Association of Wine Tourism.