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Italy to guarantee loans to firms hit by Ukraine war

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Italy will offer state guarantees to companies whose activities have been disrupted due to the conflict in Ukraine. This guarantee will cover between 70% and 90% of financing received from lenders. 

Credit exports agency SACE will now be able to guarantee loans up to December 31st with a maturity of six and a possibility to extend it to eight years.

According to the document, SACE was to be responsible for the recovery of the loans, once the banks tap the guarantees and transfer the loans back to the state.

It stated that SACE could delegate recovery activities to banks it provided guarantees to or other third parties.

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