On Tuesday 19 July, the European Commission authorised €10 billion in Italian aid to support businesses in various sectors in the context of the Russian invasion of Ukraine.
The scheme has been approved under the State aid Temporary Crisis Framework adopted by the Commission on 23 March 2022.
It is a €10 billion loan guarantee scheme aimed at providing businesses with liquidity support. The measure will be open to companies of all sizes and sectors active in Italy, with the exception of the financial sector.
Beneficiaries will be eligible for new loans, leases and recourse factoring products.
These loans and similar financial products will be covered by a State guarantee of between 70 and 90% of the loan principal, depending on the size and turnover of the companies. For each beneficiary, the maximum loan amount that can be covered by the state guarantee is either 15% of the beneficiary’s average total annual turnover over a predefined period or 50% of the energy expenditure incurred by the company over a 12-month period. (Original version in French by Lionel Changeur)