Intesa Sanpaolo, Grana Padano to guarantee the credit
The revolving pledge agreement between the bank and the Consortium has been signed
Agreement signed between Intesa Sanpaolo and the Consortium for the Protection of Grana Padano Dop. The agreement is one of the initiatives that the bank has implemented to support investments related the National Recovery and Resilience Plan (NRRP): particular attention was paid to medium / long-term loans guaranteed by "revolving pledge on forms of Grana Padano Dop", aimed at maturing some forms of cheese. The goal of the initiative is to strengthen access to credit for companies in the dairy supply chain.
The formula developed by the bank provides, even in the short term, support to manufacturing companies for their financial needs such as management costs, product transformation or the purchase of services. Under the agreement, Intesa Sanpaolo makes available to the Consortium (and associated companies) a dedicated support and consultancy structure, made up of professionals from the Agribusiness management in the area: the Consortium will verify the suitability of the forms of Grana Padano Dop that will be pledged by the consortium companies, to guarantee the credit lines made available by the credit institution.
As part of the agreement, the bank also provides integrated services such as the organization of seminars, workshops and round tables, also with the participation of companies of the Intesa Sanpaolo Group: the topics will be welfare, digitization, payment systems and collection, insurance coverage, subsidized finance, leasing, long-term rental.
“Being alongside the Consortium for the protection of Grana Padano Dop means contributing to the growth of one of the most significant productions that our country boasts among the typical and high quality products - explains Massimiliano Cattozzi, Head of Agribusiness of Intesa Sanpaolo-. The benefits of the revolving pledge are giving excellent results in the agri-food sector: the testimony is the over 40 million euros disbursed in this area at national level in relation to the support granted to companies to continue investing even in a complex context such as the current one".
For over 60 years, the Consortium has brought together 129 producers with 142 dairies, 149 seasoners and 200 pre-packers: a workforce that, in 2021, produced over 5.2 million wheels of Grana Padano cheese.
EFA News - European Food Agency