The Inter-American Development Bank (IDB) approved a $40 million loan to Argentina to boost the social, economic and environmental sustainability of the country’s wine and grape production.
The program aims to reinforce the technological capabilities and marketing capacity of small and medium-sized winemakers and foster the participation of micro, small and medium-sized enterprises (MSMEs) in the sector.
The program will also advance partnership structures and build the capacities of MSMEs, resulting in higher-quality products and lower production costs. It will help mechanize irrigation systems to keep the sector competitive and help it adapt to climate change. The project also especially targets women and young people by promoting their ideas for diversifying production, generational renewal, and technological innovation.
Argentina is the world’s fifth-largest wine producer, although its wine industry is experiencing marketing, climate and technological challenges. The program will reach an estimated 18,000 direct and indirect beneficiaries.
The IDB loan has a 25-year repayment term and a 5.5-year grace period.
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