CaixaBank, Spain’s leading retail bank, and the Spanish Wine Federation (FEV) have renewed their collaboration to support the recovery of the wine sector, which has been seriously affected by the coronavirus crisis. Through this agreement, the financial institution will help to reinvigorate and diversify the internationalisation of Spanish wine, in an attempt to offset the negative effects that the current crisis is having on the national market due to the closure and limitations of the hospitality sector. Furthermore, it is providing FEV members with an exclusive portfolio of products and services, specifically designed to attend to the needs of the sector. It is also planning to organise joint workshops for FEV members, where they can analyse and discuss important issues for the future of the sector.
The agreement, signed by CaixaBank's chief business officer, Juan Alcaraz, and the chairman of the FEV, Miguel A. Torres, also delves into the shared goal to contribute to creating and generating new opportunities for the whole Spanish wine sector, given its importance in the agri-food commercial balance and its contribution to employment, territorial development and the fight against rural depopulation.
With the aim of analysing the current situation and the future perspectives of the wine sector, CaixaBank and the FEV have organised the first AgroBank online workshop, which will take place on 25 June, where experts will analyse some of the key future challenges to accelerate the sector's recovery in the new national and global context caused by the pandemic.
The event will be kicked off by Ana Díez, executive director of business and entrepreneurs for AgroBank, with talks from Fernando Miranda, secretary-general of the Ministry for Agriculture; Ángel Villafranca, chairman of the Inter-Professional Wine Organisation of Spain (OIVE); José Luis Benítez, managing director of the Spanish Wine Federation and José María Bonmatí, managing director of AECOC, moderated by Salvador Manjón, director of the La Semana Vitivinícola industry publication. Daniel Mettyear, research director of International Wine and Spirit Research (IWSR), will also give some key information on the impact of COVID-19 on wine and future trends. The workshop will be open to FEV members, AgroBank customers and those interested in the future of the wine sector though the link that will be shared on the AgroBank and the FEV Twitter profiles.
CaixaBank, standing by the side of businesses, the self-employed, SMEs and small commerce
Since the beginning of the state of alarm in Spain, CaixaBank has activated an extensive package of measures, with a view to mitigate the economic effects of the coronavirus and support the needs of the business sector. The institution wants to continue to be a key component of the recovery of the Spanish economy as quickly as possible, facilitating credit and supporting the needs of businesses and individuals.
CaixaBank has also put in place a support plan for small businesses that includes specific financing, discounts on PoS terminal fees and the launch of a new e-commerce technology solution to help boost online sales.
Furthermore, CaixaBank is one of the leading institutions in offering guidance on foreign trade to businesses, with financial solutions that facilitate customer exports and imports. It has a large team of foreign trade specialists to provide advice on foreign markets, who can provide their knowledge and experience during these times in which businesses have seen their commercial activity diminished and, more specifically, exports, which play a major role in the wine sector.
Currently, CaixaBank has seven subsidiaries across the world: four in Europe – London, Frankfurt, Paris and Warsaw – and three in North Africa – Casablanca, Agadir and Tangier. Additionally, the institution has 18 representative branches spread across all five continents.
The FEV, serving Spanish wineries
The Spanish Wine Federation (FEV) is the only winery trade association present throughout Spain, with more than 700 wineries among its members, along with 15 regional associations. Since 1978, it has represented and advocated the interests of its associate wineries and the whole of the Spanish winery sector with the Public Administrations, as well as all other sectorial organisations, both in Spain and abroad, promoting the wine trade and that of its derivative products.
As well as promoting the image of wine as a staple part of the Mediterranean diet, differentiated from other drinks, its objectives include searching for the best possible environment for wine companies to develop their activity in a context of major global competition. Furthermore, it provides its member companies with an active guidance and information policy regarding issues that affect the day-to-day of the sector.
AgroBank, sector leader
Active for five years now, AgroBank, the business line of CaixaBank aimed at the agri-food sector, has consolidated its leadership in this segment, and one in four Spanish farmers are now customers. AgroBank's value proposal combines the development of the best products and services adapted to the specific needs of farmers, livestock breeders and cooperatives in the sector, with close and comprehensive guidance, not only through financial support but also joint planning, training assistance and specialisation, to offer a truly useful service.
AgroBank has almost 1,000 offices and 3,000 professionals with advanced knowledge of the sector. It carries out activities to invigorate the sector, such as technical workshops and agreements with relevant organisations. Additionally, through the AgroBank Chair on Quality and Innovation in the agri-food sector, together with the University of Lleida, it carries out actions such as the award for the best doctoral thesis, seminars and specific courses. Given the international vocation of the sector, AgroBank has set of solutions that provide the development of business relations with any part of the world.
CaixaBank promotes responsible and sustainable financing as one of its primary action lines in accordance with the concept of socially responsible banking. In this regard, CaixaBank offers specific funding lines to promote projects aimed at fighting climate change, such as energy efficiency and organic farming, with a view to improving the health of the planet. With this type of funding, CaixaBank contributes to the UN Sustainable Development Goals.
