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May 30, 2022 View:

Association of Noble Wine Regions signs credit pact with Siena Bank

Recently, the Consorzio del Vino Nobile di Montepulciano (Tuscany's association of noble wine regions) signed a credit pact with Monte dei Paschi di Siena (Italy's bank), allowing small and medium-sized wine companies in the region to use the current vintage as security for loans.

Image from: Italian Wine Network

Siena Bank will give a loan in a quantity equal to 80% of the total price, based on the average price of the wines offered by the Chamber of Commerce.

Previously, the Consorzio del Chianti Classico and the Consorzio del Vino Brunello di Montalcino in Tuscany signed similar credit contracts with different banks to help wineries in the region cope with the economic crisis caused by the epidemic. The economic crisis caused by the epidemic.