Background information

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.

Content of measure

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.

Use of measure

Not yet available.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	Larger corporations	Does not apply to citizens

Actors and funding

Actors	Funding
National government	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:

• No involvement
• Main level of involvement: N/A

Involvement

No involvement in the definition of the measure.

Views and reactions

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.

Sources

• 22 March 2021: DECRETO-LEGGE 22 marzo 2021, n. 41 Misure urgenti in materia di sostegno alle imprese e agli operatori economici, di lavoro, salute e servizi territoriali, connesse all'emergenza da COVID-19 (www.gazzettaufficiale.it)