Factsheet for case IT-2020-12/468 – Updated – measures in Italy
|Country||Italy , applies nationwide|
|Time period||Temporary, 17 March 2020 – 17 December 2020|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Lisa Dorigatti (University of Milan) and Eurofound|
|Case created||10 April 2020 (updated 04 January 2021)|
|Related ERM support instrument|
Decree Law No. 18/2020 of 17 March 2020 introduces temporary exception with reference to the current operating rules of the Guarantee Fund for small and medium enterprises. This measure was undertaken in order to enhance the role of the Fund in supporting businesses affected by the effects of the COVID-19 pandemic (art. 49). The measure is taken by the government within a bundle of other measures to support businesses to stay afloat during the crisis.
Art. 49 of the Decree Law strengthens the intervention capacity of the Guarantee Fund for small and medium enterprises by introducing temporary exceptions from its current operating rules. In particular, the Decree Law provides that for a period of nine months from its entry into force:
To finance the above measures, the Fund's allocation has increased by €1.5 billion. The eligible companies are the ones classified as small and medium enterprises according to the EU legislation, provided that they don't have, at the date of publication of the Decree Law, non-performing exposures.
To finance the above measures, the Fund's allocation has increased by €1.5 billion. With this additional allocation (in the case of 80% coverage of all transactions) the Fund could favor the granting of new loans for approximately €55 billion (amount that it would drop if the coverage percentages increased to 90%).
|Does not apply to workers||
||Does not apply to citizens|
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:
Social partners were not involved.
Social partners were not involved in the decision making process.
Eurofound (2020), Guarantee fund for SMEs, case IT-2020-12/468 (measures in Italy), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.