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-2021-13/1850 – measures in Italy
|Country||Italy , applies nationwide|
|Time period||Open ended, started on 23 March 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Direct subsidies (full or partial)
|Author||Lisa Dorigatti (University of Milan) and Eurofound|
|Measure added||12 April 2021 (updated 10 May 2021)|
In order to allow large companies that are in a situation of temporary financial difficulty in relation to the epidemiological emergency from COVID-19 to continue their activity, Law Decree No. 41 of 22 March 2020 set up a special fund aimed at granting of subsidised loans repayable in 5 years. The fund is established at the Ministry of Economic Development.
The fund operates by granting aid to businesses in the form of loans to be repaid within a maximum term of 5 years. Beneficiaries will be large companies (above 250 employees), with the exclusion of companies in the financial banking sector and insurance. These measures are granted within the limits and under the conditions set out in the temporary framework for state aid measures to support the economy in the COVID-19 emergency of the European Commission. The fund constitutes an additional support tool to companies compared to those already in force, which envisage the granting of public guarantees on loans.
For the year 2021, the Fund is equipped with a comprehensive amount of €200 million.
Not yet available.
|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:
No involvement in the definition of the measure.
Overall, the evaluation on the so called Support Decree (Decreto Sostegni) by the employer association Confindustria is positive, although it argues that they are still not enough to fully support the companies that have suffered the greatest losses.
Eurofound (2021), Fund to support large enterprises, measure IT-2021-13/1850 (measures in Italy), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/IT-2021-13_1850.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.