Abanca and CRDO Valdeorras Provide Joint Funding Formulas
Abanca and the Regulatory Council Designation of Orixe Valdeorras have recently renewed their cooperation on financial matters. This is about an agreement which includes the main demands of the sector and offers credit options for wineries and grape growers at the start of the campaign.
The president of the Regulatory Council Designation of Orixe Valdeorras, Francisco Garcia Alvarez, and the area manager of Abanca in East Ourense, Diego Fernandez Borrajo, initialed in Vilamartín of Valdeorras a text that represents the commitment of the financial institution with a basic component of the productive economy of the interior of Ourense and with a strategic sector for Galicia. The director of Banca Agro Abanca, Jesus Combarro Pereira also participated in the event.
In addition to that, the team of Abanca Insurance has also worked to incorporate specific products for both producers (exploration line for wine farms, group health insurance and collective accident insurance) and for bodegas (wineries safe SMEs).
Abanca has as a differential added a specific division focused on the primary sector and its needs, Agro Bank. This is an offer that combines a large number of specialized managers and a network of offices in Galicia, present in most of the municipalities where the wine sector is particularly relevant.
All these efforts are in response to a burst of campaign marked by widespread delays in harvesting grapes and a bearish forecasts based on the spring rains that favored the action of fungi or high temperatures and low rainfall during the summer.
About the Designation of Orixe Valdeorras
Designation of Orixe Valdeorras is one of the four appellations of origin in the province of Ourense. It consists of 45 wineries in the municipalities of A Rua, Larouco, O Barco, O Bolo, Petín, Rubiá and Vilamartín. The wines of this D.O occupy a total of 1,171 hectares of land in which 1,460 winegrowers work. In 2015, crop production in Valdeorras exceeded 6.5 million kilos of grapes.