A particularly large number of Flemish companies have been affected by the coronavirus and/or the measures taken to combat this virus. The financial impact is large. In this context, PMV is adapting its portfolio of financing instruments for the benefit of active Flanders. Furthermore, PMV, together with the European Investment Fund (EIF), is looking into the possibility of not qualifying the additional EU resources & EU guarantees under Covid-19 as state aid. At present, there is no concrete news on this subject.
The agreement with the banking sector may also have an impact on the measures announced earlier by PMV, as well as the guarantee offer that was already under discussion before the corona era. However, this will be communicated at a later stage.
PMV is currently highlighting the following crucial measures for enterprises in Flanders:
- Guarantee capacity of 1.9 billion euro: This will be fully activated by PMV.
- Corona crisis guarantee of 100 million euros: the Flemish government decided to expand the 300 million euros already put on the market by halving the cost of this guarantee (to 0.25%).
- Guarantee capacity of 1.5 billion euros via Gigarant: PMV will deploy this scheme among the companies that need it, together with banks, advisors.
- Suspension of repayment of current financing from PMV: This suspension is automatic and applies to both capital and interest for a minimum of 3 months. This applies to all 860 SMEs, regardless of sector.
- Maximum financial assistance from PMV to assess the impact of the crisis on the specific company.
Do you have more specific questions or would you like to know more about PMV and its operation? Then be sure to visit www.pmv.eu.
Last update: 30/04/2020