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Bloomberg
The German government is working on a financial-aid package for companies suffering from the fallout of the Ukraine war and the economic sanctions against Russia.
The support measures, which are being assembled by the economy ministry, will include a loan program by the KfW state-owned bank as well as direct financial aid, according to a person involved in the talks. The state would secure 90 percent of the liability claims of the KfW loan, said the person, who asked not to be identified discussing non-public information.
A ministry spokeswoman said talks within the government were ongoing, but declined to comment on concrete measures.
Major companies deemed systematically relevant will be offered direct financial aid, similar to the economic stabilisation fund WSF created during the coronavirus crisis. However, the volume of this fund will be much lower and range in the single-digit billion Euro area.
In addition, mid-sized companies will be able to receive as much as 300,000 euros ($327,990) each, distributed from the EU climate fund program.