Bordeaux authorities have unveiled a €20 million public-private land fund aimed at addressing the financial pressures facing struggling growers across the region. The initiative will buy abandoned and uprooted vineyard land as part of a broader effort to reshape Bordeaux’s wine landscape. The fund has been launched regional banks, the national government and the Nouvelle Aquitaine region, made initial overtures to owners to identify plots that could be purchased.
Of the total, €14m is being put up by some of the region’s banks, while Paris will contribute €3.5m, a sum which will be matched by the regional government, reports Drinks Business. The region is looking to restructure Bordeaux’s viticultural footprint, when growers are attempting to reduce costs, shed unproductive land or simply quit the sector.
