The Government agreed to the creation of a unit for implementing the wine industry rehabilitation program with the Ministry of Agriculture and Food Industry. According to Agriculture Minister Valeriu Cosarciuc, a loan of €50 million will be taken out from the European Investment Bank (EIB) to implement the program. The first tranche will be used to finance projects to modernize wineries, plant new vineyards and increase wine companies’ circulating capital, Info-Prim Neo reports. The loans raised by the wine companies from banks will not be repaid with this money. Projects to buy farmland will not be financed, Valeriu Cosarciuc said. The loans will be granted to companies that will present viable business plans and that make and export wine products of a high quality. The unit for implementing the wine industry rehabilitation program will draft projects that will be proposed for financing and will supervise how they are carried out. It will have a board consisting of seven persons and an executive director who will be selected by contest. Valeriu Cosarciuc said a mission of the EIB will come to Chisinau on September 27 to discuss aspects related to the provision of the loan. The EIB Board of Directors is to take a decision in this respect in January next year. Talks are held with the European Bank for Reconstruction and Development to obtain a loan in the same amount and with the European Commission to get a grant that will facilitate the implementation of the program.