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-2020-15/621 – measures in Italy
|Country||Italy , applies nationwide|
|Time period||Temporary, 08 April 2020 – 31 December 2020|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Lisa Dorigatti (University of Milan) and Eurofound|
|Measure added||15 April 2020 (updated 03 May 2020)|
In order to ensure the necessary liquidity to enterprises based in Italy, hit by the COVID-19 pandemic, with the exclusion of banks and other entities authorized to provide credit, art. 1 of the Law Decree no. 23 of 8 April 2020 introduces a credit guarantee for all types of businesses in order to cover personnel expenses, investments and working capital. The measures is part of the various initiatives designed by the government to address the economic and employment impacts of the COVID-19 pandemic.
Enterprises based in Italy, with the exception of banks and other credit organisations, can obtain a credit guarantee from SACE (the state-owned holding for business credit guarantees). SACE guarantees the credit provided by banks and other authorised entities up to €200 billion, of which at least €30 billion shall be in favour of SMEs, including self-employed workers and professionals registered for VAT. The main criteria include:
No information available, so far (15 April 2020).
|Does not apply to workers||Applies to all businesses||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:
Social partners were not involved in the definition of this measure, which was introduced unilaterally by the government.
Eurofound (2020), Measures to support businesses in obtaining credit, measure IT-2020-15/621 (measures in Italy), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/IT-2020-15_621.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.