France will set up a new 3 billion euro ($3.67 billion) fund to support mid-sized and large companies as they emerge from the coronavirus crisis, French Finance Minister Bruno Le Maire said on Tuesday.
France to set up three billion euro company support fund
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Last Updated: Jun 01, 2021, 07:21 PM IST
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Synopsis
The fund aims to help firms on a case-by-case basis with loans or equity injections so that businesses that were viable before the pandemic but now have strained balance sheets can get back on their feet.
Agencies
Although many firms ended up not having to use the money they borrowed, the ministry wants to avoid a wave of insolvencies.
PARIS: France will set up a new 3 billion euro ($3.67 billion) fund to support mid-sized and large companies as they emerge from the coronavirus crisis, French Finance Minister Bruno Le Maire said on Tuesday.
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PARIS France will set up a new 3 billion euro ($3.67 billion) fund to support mid-sized and large companies as they emerge from the coronavirus crisis, French Finance Minister Bruno Le Maire said on Tuesday.
The fund aims to help firms on a case-by-case basis with loans or equity injections so that businesses that were viable before the pandemic but now have strained balance sheets can get back on their feet.
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“The aim is not to dilute shareholders, it’s not the state’s role to become French companies’ main shareholder,” Le Maire told a news conference.
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France will set up a new 3 billion euro ($3.67 billion) fund to support mid-sized and large companies as they emerge from the coronavirus crisis, French Finance Minister Bruno Le Maire said on Tuesday.