Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure FR-2022-15/2392 – measures in France
|Country||France , applies nationwide|
|Time period||Open ended, started on 08 April 2022|
|Context||War in Ukraine|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Frédéric Turlan (IRshare) and Eurofound|
|Measure added||20 May 2022 (updated 20 June 2022)|
To support the cash flow of businesses affected by the economic consequences of the war in Ukraine, the government has modified the state-guaranteed loan scheme (PGE) introduced in March 2020, at the beginning of the health crisis (see State-guaranteed treasury loans . This is now part of the economic and social resilience plan presented on 16 March. This new scheme was implemented on 8 April 2022, with the publication of a Ministerial Order.
The resilience loan (PGE resilience) allows for the coverage of up to 15% of the average annual turnover over the last three years, so that companies can face up to their possible cash flow difficulties.
The PGE resilience complements the PGE introduced during the health crisis, which allows a company to take on debt up to 25% of its turnover. This scheme remains available until 30 June 2022.
Companies eligible for the PGE resilience will have to certify to their bank, on a declarative basis, that their cash flow is penalised, directly or indirectly, by the economic consequences of the conflict in Ukraine. The PGE resilience is open to all companies, regardless of their legal form, size or sector of activity. Each application will be examined on a case-by-case basis according to the company's financial situation and its need for financing.
All applications can be sent by eligible companies to their bank from 8 April. The PGE resilience will be available until at least the end of June 2022. Should the need be confirmed, it may be extended by a finance law until 31 December 2022.
Beneficiaries of the PGE resilience will be able to choose the rules for repayment and amortization of their loan, according to the same modalities as for the PGE set up in the context of the health crisis. The main banking networks have also confirmed their commitment to offer this new PGE at cost price for the entire duration of the loan.
New measure, no data yet.
|Does not apply to workers||Applies to all businesses||Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Direct consultation outside a formal body|
Social partners' role in the implementation, monitoring and assessment phase:
No specific involvement.
The measure has been welcomed by MEDEF, the main employers' organsation.
Eurofound (2022), State-guaranteed loan extended to companies affected by the war in Ukraine, measure FR-2022-15/2392 (measures in France), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/FR-2022-15_2392.html
30 January 2023
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.