France wants to help SMEs with aid of 3.5 billion dollars: Sud Ouest | News

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PARIS (Reuters) - Le plan de relance économique du gouvernement français, qui sera dévoilé plus tard ce mois-ci, impliquera 3 milliards d'euros (3,5 milliards de dollars) d'aide aux petites et moyennes entreprises (PME), a rapporté le Sud Ouest citant le ministre des Finances Bruno Le Maire.

“Many SMEs were in good financial health before the crisis and will have the means to repay their debts. But for some others, debt is a major subject that we want to tackle head-on, ”Le Maire told the regional article in an interview published on Thursday.

He said the French state could also use instruments such as convertible bonds to help boost small business finances.

The Mayor, who is developing a recovery plan of more than 100 billion euros, is expected to present it on August 25. The package aims to help the second-largest economy in the euro area recover from the impact of the coronavirus crisis.

Data for July showed that the French economy contracted from a post-war record 13.8% in the second quarter.

(Report by Camille Raynaud and Sudip Kar-Gupta, edited by Sherry Jacob-Phillips)

    

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