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Factsheet for measure 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 – 31 December 2021
Context COVID-19
Type Legislations or other statutory regulations
Category Supporting businesses to stay afloat
– Access to finance
Author Patrick Thill (LISER) and Eurofound
Measure added 10 April 2020 (updated 31 January 2022)

Background information

The National 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.

12 January 2022

The Société Nationale de Crédit et d'Investissement has set up a "Special Anti-Crisis Financing - FSAC" of up to €400 million, corresponding to a total leverage of almost €700 million, including bank financing. The financing is done indirectly through the client's usual bank: the SNCI finances up to 60% of the need, provided that the bank finances 40%. The amount of the FSAC (SNCI part) can vary between €12,500 and €10 million. The maximum duration of the FSAC is 5 years.

01 October 2021

The measure has been extended until 31 December 2021.

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, measure LU-2020-12/479 (measures in Luxembourg), EU PolicyWatch, Dublin,


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