The participatory stimulus loan scheme (PPR) launched in May to help companies recovering from the crisis will be extended until the end of 2023, according to an amendment to the 2022 draft budget tabled by the government in parliament.
This € 11 billion device, intended to support the restart of SMEs and mid-size companies (mid-size companies) with a turnover of over two million euros, was initially scheduled to end on June 30, 2022.
Bercy did not give figures on its use but admitted that the device has not been much subscribed to so far.
It is above all because the recovery is stronger than expected 頻, we explain to the Minister of the Economy, who also considers that companies and distributing banks need long-term visibility and time to familiarize yourself with this new financial tool.
The PPRs, which last for eight years and which must generally begin to be repaid after four years, are considered to be quasi-equity and must enable companies weakened by the crisis to invest and hire.
The minister also specified that the stimulus bonds, intended for large SMEs and mid-cap companies, will be launched next week, and that their subscription period was also extended until the end of 2023.
These bonds, which last for eight years, are fully redeemable at this chance.
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PPRs and stimulus bonds, just like state guaranteed loans (PGEs), are equivalent to state aid and their extension will have to await the green light from the European Commission, which is due to take a decision on 17 November.
Bercy specified that the Commission’s opinion would not only relate to the French systems but also to those of other European countries.
The amendment to the 2022 finance bill on PPRs and stimulus obligations was tabled Tuesday evening at the same time as that on the six-month extension of PGEs until June 30, 2022, the minister further indicated.
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