These loans extend over a period of 36 months and are granted exclusively to companies operating in those sectors that spend at least 5% of their revenues on fuel.
The Ministry of Finance stated in a recent statement that the financing will be provided through an electronic platform managed by the Public Investment Bank.
French Prime Minister Sebastien Lecornu has asked ministers to prepare measures to support individuals who rely on cars, following a surge in fuel prices due to the Iran war.
Price increases
In contrast, opposition MPs, including far-right leader Marine Le Pen, called for a significant reduction in taxes on petrol and diesel, accusing the state of profiting from increased revenues as prices rise.
The Ministry of Finance stated that the small business loans, announced on Friday evening, will be granted at an interest rate of 3.8% without requiring collateral from borrowers, with applications to obtain them starting from April 13.
The French government had already announced limited fuel subsidies in sectors including trucking and fishing, along with expanding energy subsidy programs for low-income households, but so far it has avoided taking broader and more costly measures, after untargeted spending in 2022 contributed to widening the budget deficit that the country is still struggling to reduce.
The French government intends to provide loans of up to 50,000 euros ($57,600) to small businesses most affected by rising fuel costs in the transportation, fishing, and agriculture sectors.
These loans will extend over a period of 36 months and will be granted exclusively to companies operating in those sectors that spend at least 5% of their revenues on fuel.
The Ministry of Finance stated in a recent announcement that the funding will be provided through an online platform managed by the public investment bank.
French Prime Minister Sébastien Lecornu has asked ministers to prepare measures to support reliant individuals on cars, following the rise in fuel prices amid the Iran war.
Price Increases
In contrast, opposition deputies, including far-right leader Marine Le Pen, have called for a significant reduction in taxes on gasoline and diesel, accusing the state of benefiting from increased revenues as prices rise.
The Ministry of Finance reported that the small business loans announced on Friday evening will be offered at an interest rate of 3.8% without requiring guarantees from borrowers, with applications starting to be accepted from April 13.
The French government had already announced limited fuel support in sectors including trucking and fishing, alongside expanding energy support programs for low-income families; However, it has so far avoided taking broader and more costly measures, after untargeted spending in 2022 contributed to a widening budget deficit that the country is still struggling to reduce.
