The Vine-growing and Wine-making Sector Restructuring Program will soon launch a new instrument to support winemakers through leasing arrangements, IPN reports.

Agriculture and Food Industry Minister Vasile Bumacov said the leasing scheme will improve access to financing, including for smaller enterprises, as procedures are simpler than in the case of loans. Moreover, interest rates are more attractive, and the security deposits are lower.

The Program's Implementation and Monitoring Consolidated Unit is now working on the leasing procedures, which will be subject to approval by the European Investment Bank (EIB) and the Program's supervisory board.

Founded in 2010, the Vine-growing and Wine-making Sector Restructuring Program has been supported by a €75 million loan from the EIB. The Program's objectives are to improve the quality of the wine made in Moldova, to diversify markets and ensure authenticity for the product.

Until now, the Program offered just loans. The third funding instrument envisaged by the Program, after lending and leasing, will be launched later and will involve offering of guarantees for capital injections.