The national olive-oil sector will also be able to benefit from the 'Revolving Pledge'. In fact, the IT portal of the Ministry of Agricultural, Food and Forestry Policies has also been implemented for PDO and PGI extra virgin olive oil, where it will be possible to register operations electronically.
In announcing it, Giuseppe L'Abbate, former undersecretary of Mipaaf, recalls that this credit access tool "is already active for the wine sector and has made it possible to introduce, in a few months from its activation, over 30 million euros of liquidity into agricultural companies with a zero cost for the coffers of the State".
“The revolving pledge – he added – was introduced with the Cura Italia Decree. It is a technical instrument appreciated by banks as the credit can be considered guaranteed for the purposes of the Basel rules and, therefore, better conditions can be granted. An important and concrete opportunity to be able to give liquidity to olive-oil companies, especially in this period in which there is a sharp increase in the costs they have to bear".
