Support for export firms sourcing supplies from Ukraine and/or the Russian Federation and/or Belarus - this financing was stopped as from 31 October 2023

This loan is for firms exporting to any geographic area sourcing supplies – individually, at a production chain or Group level – from Ukraine and/or the Russian Federation and/or Belarus to deal with the adverse impacts on exports caused by difficulties or in sourcing supplies or higher prices of such supplies, following the crisis underway in Ukraine.

The interest-free loan includes a possible co-funded grant, under the Temporary Crisis and Transition Framework. The co-funded grant is disbursed subject to prior authorisation from the European Commission – for up to 40% of overall funding, within a limit of €2,000,000.

Italian SMEs and mid-caps registered in the Companies’ Register, that are operative and:

• have a registered office or tax residence and operating base in Italy active at 31 December 2021 and also at the date when the application is submitted;
• have filed at least two financial statements for two complete financial years with the Companies’ Register;
• have an average overall export turnover in the 2020-2021 two-year period equal to at least 10% of the total average turnover in that period;
• have registered direct supplies from Ukraine and/or the Russian Federation and/or Belarus, for the years 2020 and 2021, certified by an independent party listed in the MEF (Italian Ministry of the Economy and Finance) Register of Statutory Auditors;

in the absence of the above requirements, declare instead:

1. that they sourced from suppliers that directly and/or indirectly procure from Ukraine, Russia or Belarus, based on the firm’s Financial Statements for the years 2020 and 2021, as declared and certified by an independent party listed in the MEF (Italian Ministry of the Economy and Finance) Register of Statutory Auditors;

 b. that they are part of a Group including at least one business that directly and/or indirectly sources from Ukraine and/or the Russian Federation and/or Belarus, based on Financial Statements for the years 2020 and 2021. In this case, at least one of the Group’s companies (even if not the Applicant Company) must meet the requirement, as certified by an independent party listed in the MEF (Italian Ministry of the Economy and Finance) Register of Statutory Auditors.

An interest-free “de minimis” loan with co-funded grant under the Temporary Crisis and Transition Framework. The co-funded grant is disbursed subject to prior authorisation from the European Commission – with the aim of tackling the adverse impacts on export companies caused by difficulties in sourcing supplies or price increases in such supplies, following the crisis underway in Ukraine.

Maximum amount that may be financed: 

up to €2,500,000 depending on the scoring and in any case no more than 25% of average revenues resulting from the last two approved financial statements filed by the company.

Maximum grant:

 up to 40% of the total subsidised loan. The co-funded grant is disbursed, in any case, within the limits of the total maximum amount of the loan under the Temporary Crisis and Transition Framework. The grant is disbursed subject to prior authorisation from the European Commission – in the amount of €2,000,000 per individual company.

Duration of the financing:

 6 years, of which a 2-year grace period.

Applying for the subsidised loan

When compiling the application, the business must:

• indicate the data for overall foreign turnover recorded in each of the two years (2020-2021), attaching the related VAT returns;
• declare the amount and method of procurement in each of the two years (2020-2021), also attaching the relative certification by the auditor.

During compliance with the conditions precedent, after the loan has been approved:

• certify, for the 2022 financial year, in a statement and certification by an auditor (based on the template provided on the website), that at least one of the following requirements is met:
  an increase in the average unit cost of supplies (direct and/or indirect) from Ukraine and/or the Russian Federation and/or Belarus and/or alternative geographic procurement areas, equal to at least 20% compared to the average of the 2020–2021 two-year period;
• a reduction in quantities of supplies (direct and/or indirect) sourced from Ukraine and/or the Russian Federation and/or Belarus, equal to at least 20% compared to the average of the 2020–2021 two-year period.

Click to view the Contract Proposal template >>. Note: the Contract Proposal will be sent by SIMEST only after approval by the Financial Support Committee; the contract must be signed for acceptance and sent to SIMEST exclusively from the Portal.

• As from 9.00 hours on 3 May 2023 you can access the Portal to compile and submit loan applications.
• 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. If you are not able to access the compilation stage of the loan application by the time indicated, you will keep your position in the queue only and exclusively when the Portal opens again the following day.
• The Portal will be open from 09.00 hours to 18.00 hours, Mondays to Fridays, up to 18.00 hours on 31 October 2023, unless it closes early because all financial resources have already been allocated.
• To compile the application, you must attach (i) the VAT returns for the 2020-2021 two-year period and (ii) certification by the auditor that the requirement for direct supplies or direct and indirect supplies sourced from Ukraine and/or the Russian Federation and/or Belarus has been met, based on the SIMEST-approved template (click here). If the application is sent through a consultant, the contract must be attached. For the purposes of recognising consulting fees for submitting the application, the “Statement of the professional and independent requisites of parties providing advisory services”, which is in the SIMEST section Annexes must be provided. If not uploaded when submitting the loan application, it will be requested during loan application processing.
• In any case, submitting an application does not entitle the applicant to have the financing approved. Approval is subject to the successful completion of SIMEST’s application review and the actual availability of financial resources.