Support for Italian firms exporting to Ukraine and/or the Russian Federation and/or Belarus - this financing was stopped as from 31 October 2022

The scheme disburses an interest-free loan including 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 €500,000.

The loan is for Italian businesses that realised an average export turnover from Ukraine and/or the Russian Federation and/or Belarus in the last 3 years of at least 20%, with a decrease in revenues from these areas following the conflict.

Loan applications may be submitted no later than 31 October 2022.

Italian SMEs and mid-caps, established as companies with share capital, that:

• have filed at least three financial statements for three complete financial years with the Companies’ Register
• have an average export turnover in the 2019-2021 three-year period from direct exports to Ukraine and/or the Russian Federation and/or Belarus equal to at last 20% of their total turnover for the three-year period, declared and certified by a party listed in the MEF (Italian Ministry of the Economy and Finance) Register of Statutory Auditors
• have had a decrease in turnover from the three years that, at the end of the 2022 financial year, is at least equal to 20% of the average turnover realised from the three geographic areas in the previous three-year period

A subsidised “de minimis” loan (interest-free repayment), 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 maintaining and safeguarding the competitiveness on international markets of export companies affected by the crisis following the war in Ukraine.

Maximum amount that may be financed:

 up to €1,500,000 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 co-funded grant is disbursed subject to prior authorisation from the European Commission – in the amount of €500,000 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 foreign turnover in each of the three years from the three geographic areas (Ukraine and/or the Russian Federation and/or Belarus), attaching the certification by the auditor and related VAT returns;
• declare an expected decrease in foreign turnover at aggregate level from Ukraine, the Russian Federation and/or Belarus which, at the end of the 2022 financial year, will overall be 20% or more of the average foreign turnover realised with these countries in the previous three-year period.

Checks to confirm the loan

No later than 31 December 2023, the following is necessary:

• certify in a statement and certification by a party listed in the MEF (Italian Ministry of the Economy and Finance) Register of Statutory Auditors, that the business has actually had a decrease, at an aggregate level in 2022 turnover from Ukraine and/or the Russian Federation and/or Belarus of at least 20% compared to average turnover realised in the previous three-year period with the same geographic areas.

• As from 09.00 hours on 20 September 2022, you can access the Portal to compile and submit loan applications. 
• Each business may submit only one application for this type of loan.
• 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.
• To compile the application, you must attach (i) the VAT returns for the 2019-2021 three-year period and (ii) certification by the auditor that the requirement for quantities of supplies from the three geographic areas 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 section Annexes must be provided. If not uploaded when submitting the loan application, it will be requested during loan application processing.
• Loan applications may be submitted until 18.00 hours on 31 October 2022, unless the portal closes early, because all available financial resources have already been allocated.
• 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.