UniCredit signs agreement with Consorzio del Vino Brunello di Montalcino to support the growth of its member companies.
UniCredit has finalised an agreement with the Consorzio del Vino Brunello di Montalcino to help its member companies, supporting them in their investments and growth, sustaining liquidity and responding to their Covid-induced needs.
Thanks to this agreement the Bank will provide support to the Consortium's businesses with solutions such as the Mutuo Agrario, a loan with a repayment period of up to 36 months with zero advance repayment commissions and an Ismea guarantee; and the Prodotto Riserva, an additional credit line with a maximum period of 84 months, with a minimum amount of €10,000 and with the same guarantee.
The Consorzio di tutela del Vino Brunello di Montalcino, based near Siena in Tuscany, is comprised of 212 members (representing 98.2 per cent of the Brunello production), with a combined vineyard of more than 4,300 hectares in the Municipality of Montalcino area in Tuscany. Of these, 3,150 are enrolled in DOC and DOCG certifications (2,100 in Brunello, certified since 1997, 500 in Rosso di Montalcino, 50 in Moscadello, and 480 in Sant'Antimo).
From the left: Andrea Burchi, Regional Manager Centro Nord UniCredit; Andrea Casini, Co-CEO Commercial Banking Italy UniCredit; Fabrizio Bindocci, President of Consorzio del Vino Brunello di Montalcino; Michele Fontana, Director Consorzio del Vino Brunello di Montalcino; Francesco Boccellari, Area Corporate Toscana Est UniCredit.
Fabrizio Bindocci, President of the Consorzio del Vino Brunello di Montalcino
"I am pleased about the agreement with UniCredit which helps our producers access dynamic financial instruments. The sector has so far held up well during the crisis, but we must not let our guard down. Thanks to the financial support, producers can continue their product enhancement, growth plans and investments. Therefore, the agreement with UniCredit retains strategic value."
Andrea Casini, Co-CEO Commercial Banking Italy of UniCredit
"We are convinced that this agreement adds value to the Consortium's businesses, which supports and promotes the growth and competitiveness of its member wineries both in Italy and abroad. The agreement adds to previous initiatives by UniCredit since the start of the Covid-19 pandemic and is part of its broader objective to support local companies. Through our financing solutions entrepreneurs are supported on their journey and we are with them every step, reassuring them with our presence and professionalism, to help them in the process of restarting and developing their business in a sustainable manner."