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Consolidated Unit for Implementing and Monitoring the Wine Sector Restructuring Program

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Credit Conditions

The potential beneficiaries of the program of the program will benefit the following credit terms: :

 

Structure of the investment project:

  • 50% Credit from EIB sources

  • 50% Beneficiary Contribution, represented by: own sources and/or; borrowed sources and/or; combined sources.

 

Currency:  The Beneficiary may request loans from Partner Commercial Banks in national currency or in EUR, USD. The loan shall be repaid in the contracted currency.

Investment funding period : max. 10 years

Grace period: max. 4 years

Interest rate: Floating (to be reviewed every 6 months by Credit Line Directorate)

In 2012-2013 the refinancing rate set by the CLD for comercial banks from sources requested from the EIB credit Line  în in foreign currency (Euro) was as follows:

  Period  %
Installment I 01.06-30.11.2012 2.01
  24.12-24.06.2013 1.98
  24.06-23.12.2013 1.709
     
Installment II 03.09.12-04.03.2013 1.624
  04.03-03.09.2013 1.714
     
Installment III 19.12.12-18.06.2013 1.397
     
Installment IV 10.06-10.12.2013 1.68
     
Installment V 12.08.2013-12.02.2014 1.721
     
Installment VI 16.12.2013-16.06.2014 1.754

The interest rate  set for the program beneficiaries will consist of the refinancing rate for partner banks and the commercial bank margin.

The commercial bank margin will be negociated by each Beneficiary individually,taking into account the maximum recomanded level of 4 %.

 

Maximum ammount of funding:  
Entity's re-equipment 5 mln euro
Vineyard restructuring 2 mln euro
Financing of the medium-term working capital 600 thsd euro
Maximum ammount of funding 25 thsd euro
Maximum ammount for vine plantation, per ha 10 thsd euro
Maximum ammount for clearing a non-productive plantation, per ha 1 thsd euro

Main Program Benefits:

  •  Long credit period;

  •  Long grace period;

  •  Attractive interest rate;

  •  Exemption from custims duties, excise duties, VAT on import of equipment/services to be procured under the  program supported investment project;

  •  Zero VAT rate on purchase of goods, equipment, technology/services from domestic suppliers, required to implement  the investment project .

 ZERO VAT is applied by domestic suppliers (subject to VAT) for delivery within the country of goods and services and for the import thereof under implementation of Moldovan Wine Sector Restructuring Program.

Ref.: GD no. 246 of 8 april 2010 and the amendments approved by the Government Decision no.1161 of 20.12.2010 on the application of the zero VAT rate on delivery within the country of goods and services for technical assistance and investment projects and on import of such goods/services.

Detailed instructions on obtaining tax incentives are described in the ”Guidelines on the application of tax incentives under the Wine Sector Restructuring Program” .


MD-2023, Republic of Moldova, Chișinau, str. Calea Basarabiei 18, 2nd floor Tel: 22 260 903