Background information

The COVID-19 pandemic emergency has impacted on the business capacity to access to liquidity. Accordingly, the Law Decree no. 23, issued on 8 April 2020 (article 1), provided for a dedicated guarantee for companies needing to apply for financing and loans. The Law Decree no. 73, issued on 25 May 2021 (article 13), has extended this guarantee, in the light of the prolonged economic difficulty faced by the businesses.

Content of measure

The Law Decree no. 23, issued on 8 April 2020 (article 1), provided for a dedicated guarantee for companies needing to apply for financing and loans. Such guarantee is ensured by SACE S.p.A., an Italian joint-stock company with the public participation of Cassa Depositi e Prestiti, specialised in the insurance and financial sector. SACE guarantees companies in favour of banks, national and international financial institutions and other subjects authorised to exercise credit in Italy, for financing in any form the Italian companies. The commitments undertaken by SACE should not exceed the maximum total amount of €200 billion, of which at least €30 billion are intended to support small and medium enterprises. The guarantee is issued by 31 December 2020, for loans with a duration not exceeding 6 years, with the possibility for companies to make use of a pre-amortization period of up to 24 months.

The Law Decree no. 73, issued on 25 May 2021 (article 13), has extended this guarantee.

Use of measure

Data on the implementation of the measure is not yet available.

Target groups

Workers	Businesses	Citizens
Does not apply to workers	Applies to all businesses	Does not apply to citizens

Actors and funding

Actors	Funding
National government Company / Companies	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

The social partners have not been involved.

Views and reactions

The social partners have not been involved.

Sources

• 08 April 2020: Decree-law 8 April 2020, no. 23 (Misure urgenti in materia di accesso al credito e di adempimenti fiscali per le imprese, di poteri speciali nei settori strategici, nonche' interventi in materia di salute e lavoro, di proroga di termini amministrativi e processuali) Misure urgenti in materia di accesso al credito e di adempimenti fiscali per le imprese, di poteri speciali nei settori strategici, nonche' interventi in materia di salute e lavoro, di proroga di termini amministrativi e processuali. (20G00043) (GU n.94 del 8-4-2020 ) (www.normattiva.it)
• 25 May 2021: Law Decree no. 73/2021 (www.gazzettaufficiale.it)