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COVID-19 EU PolicyWatch

Database of national-level responses

Eurofound's COVID-19 EU PolicyWatch collates information on the responses of government and social partners to the crisis, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for case IT-2020-12/464 – measures in Italy

Loan instalments deferral for micro, small and medium-sized enterprises affected by the COVID-19 epidemic

Misure di sostegno finanziario alle micro, piccole e medie imprese colpite dall'epidemia di COVID-19

Country Italy , applies nationwide
Time period Temporary, 17 March 2020 – 30 September 2020
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Deferral of payments or liabilities
Author Lisa Dorigatti (University of Milan) and Eurofound
Case created 10 April 2020 (updated 04 May 2020)

Background information

With the Decree Law No. 18/2020 of 17 March 2020 (art. 56) the Government intervened in the field of loan payments, in order to prevent, or to mitigate, the indebtedness of micro, small and medium-sized enterprises. This is part of a series of measures introduced by the government in order to support entrepreneurial activities that have been affected from the COVID-19 epidemic and to allow them to stay afloat during the crisis.

Content of measure

In order to support entrepreneurial activities that have been affected by the COVID-19 epidemic, micro, small and medium-sized enterprises with debt exposures vis-à-vis banks and financial intermediaries can suspend loan installments until 30 September 2020. Furthermore, all subsidized loans can be suspended. Companies eligible for these measures are those whose debt exposures not classified as impaired credit exposures. The operations subject to the support measures are admitted, without evaluation, to the guarantee subsidiary of a special section of the Guarantee Fund for SMEs with a budget of €1.73 billion which will cover 33% of non-payments of companies to lenders for the duration of the period of suspension.

Use of measure

According to the Explanatory Report, the measure should concern business financing (in the various technical forms) for approximately € 219 billion.

Target groups

Workers Businesses Citizens
Does not apply to workers SMEs
One person or microenterprises
Does not apply to citizens

Actors and funding

Actors Funding
National government
Company / Companies
National funds

Social partners

Social partners' role in designing the measure and form of involvement:

Trade unions Employers' organisations
Role No involvement No involvement
Form Not applicable Not applicable

Social partners' role in the implementation, monitoring and assessment phase:

  • Unknown
  • Main level of involvement: Unknown


The social partners were not involved in the policy-making process.

Views and reactions




Eurofound (2020), Loan instalments deferral for micro, small and medium-sized enterprises affected by the COVID-19 epidemic, case IT-2020-12/464 (measures in Italy), COVID-19 EU PolicyWatch, Dublin,

Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.