France to Offer New Loans to Firms Hit by Supply Issues

(Bloomberg) -- France announced new measures to support industrial firms suffering from supply difficulties, including loans for up to ten years. 

As much as 700 million euros ($790 million) of lending will be made available via state investment bank Bpifrance to bolster working capital, officials said in a presentation of the plans to the press. The long-term lending is designed not to harm companies’ capacity to invest.

“The economic recovery is strong and powerful,” Finance Minister Bruno Le Maire said in a statement. “That is why our industrial firms are confronted with supply difficulties.”

The government also said companies can access the state guaranteed lending program created during the pandemic until the end of June next year. And it encouraged employers to apply for France’s long-term furlough program. 

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