The €3 billion transitional fund has been launched to support medium-sized companies and large companies severely affected by the health crisis and facing funding problems (press release No. 1442 dated September 27, 2021).
Some companies particularly affected by the health crisis may face a longer recovery than the rest of the economy. Advertise at 1He is In June by Bruno Le Maire, the European Commission on September 14 approved a €3 billion transitional fund for these companies. On September 27, the Minister of Economy, Finance and Recovery announced the official launch of the device.
It mainly targets medium-sized companies and large companies in all sectors except the financial sector. The following conditions must be met:
- Businesses must have been affected by the health crisis (hotels, restaurants, bars, tourism, events, trade, transportation, etc.).
- They face ongoing financing needs.
- Existing financing instruments do not make it possible to meet these needs.
- They can demonstrate the sustainability of their economic model.
The fund will make it possible to support qualified companies that need liquidity or to strengthen the upper part of their balance sheet (equity) given their debt ratio.
The fund is managed by the Ministry of Economy, Finance and Recovery. It can be sent directly by companies by e-mail to the following address: [email protected].
These applications will be examined by an advisory panel of 6 members recognized for their expertise and experience in corporate finance. The committee, chaired by Gérard Boadel, met for the first time on 27 September.
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