France extends Gretea debt-support programme for 1 year
The state will continue covering bank guarantee fees on debt-consolidation loans lasting 5 to 12 years under a scheme used mainly by the wine sector.
France will extend the Gretea support programme for 1 year, Agriculture Minister Annie Genevard said after meeting wine-industry representatives on 29 October. According to the report, the scheme has been used mainly by the wine sector.1
Under Gretea, the state covers the guarantee commission fees charged by banks on debt-consolidation loans with terms of 5 to 12 years. The loans are guaranteed by the French state through Bpifrance; the programme covers those fees rather than the full cost of the loan.1
Access for cooperatives
Gretea was created for farmers and was expanded earlier in the year to agricultural cooperatives and unions of agricultural cooperatives specialising in viticulture or fruit growing. The 1-year extension therefore also applies to eligible cooperative structures, rather than only to individual vineyard operators.1
Sources
Written by the Dionysus editors from the sources above.
