Grant for compensation of direct material damages suffered by exporting companies located in areas affected by the flooding events of May and November 2023.

WHAT’S NEW: the measure providing aid to compensate for direct material damage has also been extended to cover companies affected by the flooding in Tuscany in November 2023

To enable the timely recovery of economic activities, SIMEST is disbursing a grant (from resources of the Fondo Promozione Integrata [Integrated Promotion Fund]) to export companies that have their operating base or local units in areas affected by the flooding, as compensation for direct damage suffered, certified by a sworn report. 

As from 9 January 2024, access to the grants will be extended – for companies affected by the flooding in May 2023 and in November 2023 – to businesses that do not export directly but are related to an export-based production chain, and that have a turnover deriving from proven operations with companies that directly operate on foreign markets. If you have already submitted an application, you can make a new application up to the maximum limit.

All businesses, of all sizes, that:

• have filed their 2022 financial statements with the Companies’ Register, or income statement if not required to file financial statements (see the Circular)
• have their registered office in an EU Member State
• have their operating base or local units in areas affected by the flooding as identified in Annex 1 to Italian Decree Law no. 61 of 1 June 2023, or in Annex A to Italian Decree Law no. 145 of 18 October 2023
• have: (i) an export turnover of at least 3%; or alternatively:
• (ii) a production-category ATECO code (the ATECO code is an economic activity code), and at least 10% of their total turnover (line item A1 of the income statement) realised overall with one or more export client companies that have a production-category ATECO code, and which each directly realise an export turnover of at least 3%;
• have sustained material damage to assets following the flooding in May and November 2023, as ascertained by a sworn report written by an expert registered with a professional Roll/Association/Body
• have an ATECO code that is not excluded by the Circular.

A grant covering material damage to assets (for example property, equipment, machinery, vehicles and stock), sustained by the applicant company with a direct causal relationship with the flooding, as ascertained by a sworn report issued by an expert registered with a professional Roll/Association/Body.

The amount which may be granted

• Maximum amount: €5,000,000

The amount that may be granted in relation to the damage indicated in the Sworn Report is equal to:

• Up to 80% of the ascertained damaged, in the case of uninsured assets
• Up to 100% of the ascertained damage, in the case of insured assets excluded from the insurance cover (excess or uninsured portion)

In any event, the amount of the Grant that may be disbursed and any amount already granted pursuant to the Operating Circulars no. 1/FPI/2023 and no. 3/FPI/2023 may not exceed €5 million.

The amount that may be granted cannot exceed 100% of the value of the damage estimated in the sworn report. The grant is provided within the limits of the damage for which no other public financing has been received, or for which no insurance payouts, in any from whatsoever, have been granted or disbursed by any party whatsoever.

Disbursement of the grant

The grant is disbursed as a single payment within 10 days from receipt of approval by the Financial Support Committee

Documents required to apply for the grant

When submitting an application via SIMEST’s portal, 

the following documents must be uploaded:

• 2023 VAT return (or if not filed due to extended deadlines, the 2022 VAT return)
• A sworn report of the damage sustained, based on the format provided by SIMEST (see the section Annexes)
• A statement from the Legal Representative indicating the assets covered and not covered by insurance, based on the format provided by SIMEST (see the section Annexes)
• The identity document of the Expert registered with a professional Roll/Association/Body
• The contract of a current account for the financing granted by SIMEST
• The identity document of the beneficial owner(s)
• the DURC (single record of social security payments)
• Documentation certifying the powers to sign of the Legal Representative (articles of association, deed of appointment or documents granting powers according to the SIMEST format in the section Annexes)
• Anti-mafia documentation for amounts over €150,000 (see the section Annexes)
• Where applicable, a Statement certifying that the Grant does not concern Exclusions (see the section Annexes)

If access via the production chain is a requirement, the company shall also provide:

• A list of export and equivalent clients, showing the amount of sales for each client in 2022, and the amounts of sales and relative invoices of the export clients of the export client company

And, alternatively, one of the following documents:

• The VAT return of the export client company
• An excerpt of the VAT return, in cases where the Applicant Company declares that its export client company is not willing to provide the VAT return
• A statement of intent of the export client company
• The financial statements of the export client company

The application, signed digitally by the legal representative and sent via the Portal, can only be received if it includes all requested attachments.

See the Circulars 1/FPI/2023 and 3/FPI/2023 for all details on how the instrument works.

• As from 09.00 hours on 26 June 2023, affected businesses, based in Emilia-Romagna and surrounding areas, can access the Portal to compile and submit applications for grants.
• Please note that as from 09.00 hours on 9 January 2024, applications for grants with new conditions, also extended to businesses in areas of Tuscany affected by the flooding in November 2023, can be compiled and submitted.
• To access the Portal, you need to join the virtual queue. When it is your turn, you will have a maximum time to compile the application. After this time has lapsed, you will have to join the queue again. 
• The Portal will be open from 09.00 hours to 18.00 hours, Mondays to Fridays, unless it closes early because all financial resources have already been allocated.
• If you are not able to access the compilation stage of the grant application by the time indicated, you will keep your position in the queue only and exclusively when the Portal opens again the following day.
• To compile the application, you must (i) attach all necessary documentation, as indicated in the Circular, (ii) give details of the name, number, registration with the professional Roll/Association/body of the expert and their certified email address, (iii) give details of the legal representative, (iv) give details of the beneficial owner of the Applicant company, (v) upload the contract of the dedicated current account, (vi) upload the articles of association of the company. All documents must be digitally signed.
• In any case, submitting an application does not entitle the applicant to have the financing approved. Approval is subject to the application being complete, the successful completion of SIMEST’s application review and the actual availability of financial resources