The Minister of the Economy and Finance announced that the government would release from the beginning of May 2021, 11 billion euros of participatory loans to accelerate the economic recovery of the country.
€ 11 billion in participatory loans
Bruno Le Maire announced Monday April 26, 2021 on Europe 1 that the government would release 11 billion euros in equity loans to accelerate the country’s economic recovery. This sum will be released from the beginning of May and will be loaned to very small and small businesses that have not been able to obtain a government guaranteed loan (PGE).
Thus, the Minister of the Economy explains that for the sectors “ ready to restart, we will make available in early May 11 billion euros in participating loans out of the 20 planned. The insurers have played the game so there will be new money in the next two weeks for all companies that will be able to reinvest, rehire and recreate jobs “.
This equity loan aims to compensate for the stoppage of government aid, Bruno Le Maire wants these long-term investments to prevent multiple closures. ” We did not invest so much means during 14 months to save jobs and businesses and finally rush to withdraw aid », He explains.
This new kind of equity loan is a long-term loan that is spread over eight years and whose repayment is deferred. It does not begin until after the fourth year. A particularity that Bruno Le Maire considers “ interesting for companies “.
Of course, certain sectors such as catering, tourism or even events will not be able to benefit from these participatory loans. However, Bruno Le Maire reassures the fact that appropriate aid will continue for these sectors strongly affected by the health crisis.