Italy will provide state guarantees for companies whose activities were disrupted by the conflict in Ukraine. The guarantee will cover 70% to 90% of the financing received from lenders.
The credit export agency SACE can now guarantee loans up until December 31st, with a maturity of six years and the possibility to extend it to an additional eight year period.
The document stated that SACE was to be responsible to recover the loans once the banks had tapped the guarantees and transferred the loans to the state.
It said that SACE could delegate the recovery activities to banks it provided guarantees for or other third parties.
This article is shared:
EU Reporter publishes articles sourced from many outside sources that reflect a broad range of views. These articles do not necessarily reflect the views of EU Reporter.
