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COVID-19 EU PolicyWatch

Database of national-level responses

Eurofound's COVID-19 EU PolicyWatch collates information on the responses of government and social partners to the crisis, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.

Factsheet for case LU-2020-12/479 Updated – measures in Luxembourg

Special anti-crisis financing

Financement Spécial Anti-Crise

Country Luxembourg , applies nationwide
Time period Temporary, 18 March 2020 – 30 June 2021
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Access to finance
Author Patrick Thill (LISER) and Eurofound
Case created 10 April 2020 (updated 11 January 2021)

Background information

The Natioanl Credit and Investment Company (Société Nationale de Crédit et d’Investissement, SNCI) wants to help soundly managed companies that find themselves with economic difficulties related to the COVID-19 crisis. The SNCI was born out of the steel crisis in 1977. The health crisis of the COVID-19 pandemic, is giving the Société nationale de crédit et d'investissement the opportunity to take a stand at the bedside of Luxembourg companies. SNCI is a public-law banking institution with legal personality whose capital is fully owned by the State of Luxemburg.

Legal background: Law of August 2nd 1977, Creating the SNCI, Loi du 2 août 1977 portant création d’une Société Nationale de Crédit et d’Investissement,(Mém. A - 45 du 8 août 1977

Content of measure

Special Anti-Crisis Financing can be granted to SMEs and large companies, which were not in financial difficulties before and which are encountering temporary financial difficulties as a result of exceptional financing needs caused by the crisis (COVID-19 pandemic) up to 400 million euros, corresponding to a total leverage effect of nearly 700 million euros, including bank financing.The beneficiaries shall possess a valid business permit issued by the Ministry of the Economy.

Only exceptional financing needs caused by the COVID-19 pandemic crisis are eligible. The intermediary Bank is responsible for the analysis necessary to determine and verify these exceptional financing needs and then addressed to the SNCI and which it wants to co-finance together with the SNCI.

The financing amount can be between 12,500 and 10,000,000, where the SNCI share could be 60 %, and the intermediary Bank covers the remaining 40%. The SNCI’s share can attain 60% of the exceptional financing need, and the remaining 40% is covered by the intermediary Bank. The duration of the financing is limited to five years, with a fixed rate regularly reviewed. The SNCI reserves the right to revise the interest rate yearly.

Repayment is made in equally distributed quarterly installments. A single capital repayment can repay loans which duration does not exceed 24 months at the final maturity date.


The following updates to this measure have been made after it came into effect.

01 January 2021

The special Anti-Crisis Financing (in the form of an Anti-Crisis Indirect Development Loan) granted by the SNCI via intermediary Banks that have signed the Specific Conditions governing the Anti-Crisis Indirect Development Loan and initially planned to end on 31 December 2020 has been extended for financing decisions taken until 30 June 2021.

Use of measure

No information 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
Public support service providers
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: Unknown



Views and reactions

not applicable



Eurofound (2020), Special anti-crisis financing, case LU-2020-12/479 (measures in Luxembourg), COVID-19 EU PolicyWatch, Dublin,

Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.