Moldovan Wine Sector Restructuring Programme via leasing starts today

Chisinau, 5 February /MOLDPRES/- The Wine Sector Restructuring Programme through leasing operations “Filiera Vinului”, was launched in Chisinau today. It is a premiere opportunity for Moldovan companies to lease wine-related equipment and machinery.

The executive director of the programme, Iurie Brumarel during a news conference today, said the programme would provide vine and wine companies, as well as companies operating in related fields (producing wine-related equipment, packaging, accessories for setting up vineyards) with leasing opportunities. The money will be offered by the European Investment Bank (EIB).

“It is a long-awaited opportunity that has been worked out for a long time. Now, the renewed loan contract between the Moldovan Finance Ministry and Raiffeisen leasing is finally ready to be signed,” Brumarel said. Just like in other fields, wine-makers cannot get a loan because of the lack of collateral. Therefore, the launched programme is very important.

Eligible to participate in the programme are companies producing wine grapes, wine-makers, seedlings and wine-related equipment. The programme provides for a minimum leasing-sum of 25 thousand euros, while the maximum sum accounts for 7 million euros. The money may be used to buy tractors, trailers, combine harvesters, vine and wine machinery, trucks, forklifts, harrows, shredders, crushers, filters, pumps and other machinery.

The programme is also going to offer participants more fiscal and customs facilities, such as zero VAT for leased goods, exemption from customs taxes for imported goods and free-of-charge customs procedures for imported equipment. The money will be offered for a ten-year period of time, with a grace period of four years.

Leasing is a more advantageous financing method, as it does not compel farmers to bring evidence of their pledge to secure the repayment the loan. The programme has favourable financing conditions, such as an attractive eight-nine-per-cent per euro interest rate or a flexible repayment schedule. The EIB will provide 10 million euros for this leasing programme.

The Wine Sector Restructuring Programme was carried out by the Moldovan government and the EIB to address the structural weaknesses of the Moldovan wine industry. The programme aims to redress the country's wine industry and promote wine Protected Designation of Origin (P.D.O) and Protected Geographical Indication (P.G.I).

The participants in the news conference have also noted that another project, entitled “Livada Moldovei” (Moldova’s orchard) is currently being launched. The programme accounts for 120 million euros and will last for a ten-year period of time. Moreover, it will also be backed by the EIB.

(Reporter V. Bercu, Editor M. Jantovan)