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Commission approves €44 billion Italian scheme to support large companies

Christian Fernsby ▼ | September 21, 2020
The European Commission has approved an Italian scheme, with an overall budget of €44 billion, to support large enterprises affected by the coronavirus outbreak.
Italian scheme   Brussels
Italy notified to the Commission, under the Temporary Framework, a scheme consisting of four complementary measures to support large companies particularly affected by the coronavirus outbreak, through recapitalisation instruments, in particular equity, and hybrid capital instruments (convertible bonds and subordinated debt).

Topics: Italian

Together with the Italian scheme intended for small and medium-sized enterprises, the Italian measures aim to support the solvency of a large spectrum of companies that have suffered from the coronavirus outbreak, thus helping them to ensure the continuation of their activities and supporting employment.

The scheme targets large companies that have faced a severe reduction of revenues in 2020.

To be eligible, among other criteria, the companies should be considered strategic for the economy and for the labour markets.