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 IT-2020-12/464 – measures in Italy
|Country||Italy , applies nationwide|
|Time period||Temporary, 17 March 2020 – 30 September 2020|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Deferral of payments or liabilities
|Author||Lisa Dorigatti (University of Milan) and Eurofound|
|Measure added||10 April 2020 (updated 04 May 2020)|
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.
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 instalments until 30 September 2020. Furthermore, all subsidised 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.
According to the Explanatory Report, the measure should concern business financing (in the various technical forms) for approximately €219 billion.
|Does not apply to workers||
One person or microenterprises
|Does not apply to citizens|
Company / Companies
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:
The social partners were not involved in the policy-making process.
Eurofound (2020), Loan instalments deferral for micro, small and medium-sized enterprises affected by the COVID-19 epidemic, measure IT-2020-12/464 (measures in Italy), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/IT-2020-12_464.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.