Support for Italian firms exporting to Ukraine and/or the Russian Federation and/or Belarus - this financing was stopped as from 31 October 2023

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 €2,000,000.

The loan is for Italian businesses with a ratio of “average export turnover from Ukraine and/or the Russian Federation and/or Belarus realised in 2020-2021 to average overall export turnover” of at least 10%, and a decrease in revenues from these areas following the conflict.

Loan applications may be submitted no later than 31 October 2023.

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 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 export turnover in the 2020-2021 two-year period from direct exports to Ukraine and/or the Russian Federation and/or Belarus equal to at last 10% of their total foreign turnover, as declared and 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 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 €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 foreign turnover in each of the two years from the three geographic areas (Ukraine and/or the Russian Federation and/or Belarus) and overall foreign turnover, attaching the certification by the auditor and related VAT returns;

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

• 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 it 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 two-year period with the same geographic areas.

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 09.00 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 available 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 foreign turnover 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 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.