AECM, ELTI & NEFI Position Paper - Overview of measures against the economic impact of the Coronavirus (COVID-19) outbreak
Updated 17 June 2020
After the outbreak of the Covid-19 pandemic and the decision of most governments in Europe (as well as other continents) to prioritise “social distancing”, it immediately became clear that these decisions will have a significant impact on the global economy. All governments are reflecting how to support self-employed, solo-entrepreneurs, SMEs on to mid-caps and globally-acting conglomerates, airports and healthcare systems as well as companies in the fields of export, tourism and in many other areas. European Member States also introduced completely new measures with the Maastricht criteria becoming less of a priority.
EU Member States quickly began designing an appropriate answer to the challenges ahead – with each country customising their specific needs whilst basing themselves on existing structures. National Promotional Banks and Institutions as well as guarantee institutions are providing support to companies within their respective countries. The overall economic public policy goal that no job be lost due to the current crisis, and that no company should become bankrupt due to the liquidity problems caused by this crisis has been backed by the public budget.
The actors who are members of:
- AECM - European Association of Guarantee Institutions www.aecm.eu
- ELTI - European Association of Long-Term Investors www.eltia.eu and
- NEFI - Network of European Financial Institutions for SMEs www.nefi.eu
are transferring public budget into financial instruments in order to provide support to their customers.
By observing the enclosed table, the reader should receive a wide overview of all the available instruments within Europe. The data collected is based on members’ contributions and contains all instruments and measures implemented or under preparation. The table is updated as soon as the secretariats receive a new contribution, sometimes 2 or 3 times within the same day. The reader can find an indication of targeted sectors and undertakings along with the membership of each actor. Today we are still unable to predict until when these updates will bring added value to members, governments, EU institutions and other stakeholders. We expect that most of the instruments will be implemented very soon since support is urgently required. We may switch the updates to a more regular (weekly, monthly) basis in a few weeks’ time.
If you have questions or remarks, we are happy to give further information as far as we are aware. We ask that you please come back to the associations whose contact details you can find on their respective web pages.