Italy COVID-19 Legislative measures – An overview, in English, of the Decree-Law 08/04/2020 n.23 providing liquidity support to businesses
On 6 April the Government approved a Decree-Law providing liquidity support to businesses, mainly through the State’s guarantee on loans/mortgages.
Its main provisions fall into the following categories:
- Liquidity support to businesses through the State’s guarantee on loans
- Measures to strengthen the Government’s golden power and CONSOB’s market oversight
- Postponement of tax payment deadlines
- Suspension of judicial proceedings
- Other measures, in the field of healthcare and subsidies for dismissed workers.
Please note that the impact of this package on the State’s deficit is zero: the financial resources allocated are very limited (e.g. those allocated to assist loans to businesses are in the range of €2 billion) and have been re-allocated from other Government programmes. Basically, the rationale of this package is to improve the provision of credit from the banking sector to struggling businesses by assisting loans and mortgages with the guarantee of the State.
The Decree-Law entered into force today, after its publication on the Official Journal and it will now be submitted to Parliament for ratification.
Telos A&S drafted a courtesy overview, in English, of the Decree-Law.
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You may download the overview, in English, of the Decree-Law belowDownload it here