Simest: the reopening of the counter will start from 28 October

On 7 August in the Official Gazette the statement of the Facilitation Committee was published which announced the reopening of the activity of receiving new applications for subsidized financing from the Fund 394/81 and related non-repayable co-financing from the resources deriving from the National Plan of recovery and resilience (PNRR).  

Specifically, the PNRR for Mission 1 , Component 2, Investment 5, Sub-measure "Refinancing and redefinition of the Fund 394/81 managed by SIMEST" provided for the allocation of 1.2 billion euros for 2021 for the Fund 394/81 managed by SIMEST with subsidized loans and grants.

The new allocation has therefore allowed the reopening of a new branch, thus companies will be able to submit  new applications for Simest loans  starting  from 28 October 2021 and until 3 December, unless early closure due to exhaustion of resources.

However, the resolution provides that operations remain subject to the adoption of national refinancing measures and regulation of the relative resources and the consequent resolutions of the Concessions Committee. These legislative interventions will specify the terms, methods and conditions of the instruments of the 394 fund for the implementation of the sub-measure in compliance with the requirements of the PNRR and the European decision approving the Plan. According to what is reported in the plan, one of the objectives is to encourage green and digital investments , so it is likely that the next Simest circulars will contain indications in this regard.

As regards the contribution, as provided for by article 11 of the Dl Sostegni Bis, until 31 December 2021 the non- repayable co-financing share can be recognized up to a limit of 25%  of the total amount of the loan requested. However, the same Dl Sostegni Bis provided for the exclusion of capitalization operations from the non-repayable co-financing.

We briefly recall the measures made available by Simest:

  • capitalization : for the improvement or maintenance of predetermined levels of capital solidity in order to strengthen exporting companies;
  • participation in international fairs, exhibitions and system missions : to promote the participation of companies and their business in international events; 
  • entering foreign markets : to facilitate the opening of permanent commercial structures abroad;
  • Temporary Export manager : to support the temporary hiring of specialized professional figures in the company;
  • E-Commerce : for the development of e-commerce solutions through the use of a market place or IT platforms developed in-house;
  • Feasibility Studies : for studies related to both commercial and production investments;
  • Technical assistance programs : for staff training in investment initiatives.