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Wine: Ascovilo-Intesa protocol to finance Lombardy

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Green light to the new rules on tax transparency (ANSA)

(ANSA) – MILAN, NOVEMBER 23 – Sustainable growth must be stimulated and financed. With this philosophy was born the protocol between Ascovilo (Association of Lombard wine consortia) and Intesa Sanpaolo signed during Vinitaly and became operational today.

A first step – reads a note from the bank and the association – to support companies by supporting internationalization and export development as well as defining a work table aimed at studying and analyzing the supply chain Lombard winemaking with insights into the main economic trends.

The Agribusiness Department of Intesa “has already made resources and services available to support a fundamental sector for the real economy of the country, proposing itself as a qualified interlocutor to accompany its operators in all stages of development, as well as support investments aimed at promoting new business projects , with particular attention to the criteria of sustainability and the circular economy “. The agreement also provides for the access of member companies to the “revolving pledge on DOC wines”, the financial solution of Intesa Sanpaolo which “allows to carry out a timely assessment of the stocks of wine for aging and to convert them into useful guarantees to obtain new lines of credit”. From a research by the Intesa Sanpaolo Studies and Research Department, it emerges that in 2020 the Italian agri-food system generated an added value of almost 64 billion euros and employed over 1.4 million people, with a weight on the economy respectively of 4 , 3% and 5.7%. Italian wine exports totaled approximately 6.3 billion euros in 2020, down by 2.2% compared to 2019. Wine exports to Lombardy show a contraction in 2020 of -11.7%.

(ANSA).

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Source From: Ansa

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