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Export companies: a new subsidised ‘394 Fund’ loan to address the crisis caused by the conflict in Ukraine

A new subsidised loan for export companies who have been penalised by the current conflict in Ukraine has been in effect since 20 September 2022. The instrument is activated through the 394/Ukraine Fund managed by SIMEST (CDP Group Company) in association with the Ministry of Foreign Affairs and International Cooperation.

The new product was devised for all SMEs and Mid-Cap companies whose direct or indirect procurement of supplies came from UkraineRussia or Byelorussia, and who were forced to diversify their supply markets due to the hostilities.

The instrument gives the opportunity to access an interest free loan and a portion of a non-repayable grant of up to 40% (granted subject to authorisation by the European Commission).  Applications can be submitted to the portal simest.it up to 31 October 2022.