We hope the mentioned good practice case will encourage other governments and policymakers to do the same in their respective countries. Exhibitions and trade shows are the fastest of fast-tracks to economic recovery once the coronavirus crisis has passed and will deliver the best return on investment now. We sincerely thank UFI, EEIA, and EMECA for providing valuable information.
CASE STUDY: FRANCE
France was one of the most aiding countries when it came to the meetings and exhibitions industry. Their financial aid helped the industry persevere.
EMERGENCY HELP
Expenditure measures (direct grants):
On 20 April 2020, a French “umbrella” scheme to support small and medium-sized enterprises (SMEs) and large corporates in France affected by the coronavirus outbreak was announced. The scheme, called “Regime Cadre Temporaire”, covers a) limited amounts of aid in the form of direct grants, equity injections, repayable advances and subsidised loans, up to a maximum nominal amount of €800,000.
On 30 June 2020, a French scheme of € 207 million to support the French economy during the coronavirus outbreak was introduced. This support takes the form of salary support in sectors particularly affected by the pandemic, including hospitality, tourism and transport, whose activity has been interrupted by measures put in place by the State to stop the spread of the virus. The measure aims to ensure that workers in these sectors will keep their jobs, and receive a monthly income while reducing the salary costs for employers.
RESTART HELP
Measures related to public guarantees, loans, tax deferrals:
On 30 June 2020, a €30 billion French subordinated loan scheme was launched to support companies affected by the coronavirus outbreak. The total amount of subordinated loans with favourable interest rates that can be granted under the scheme is €30 billion. The measure aims at supporting access to funding for enterprises of all sizes to sustain their economic activities. The measure will be open to companies active in all sectors, with the exception of those active in the financial sector. The scheme will be managed by the central government, by territorial administrations and by other granting authorities. The subsidised subordinated loans will be granted directly by the granting authorities.
RECOVERY HELP
Expenditure measures (direct grants):
On 13 March 2021, a French scheme of approximately €2 billion was launched to support the uncovered fixed costs of companies affected by the coronavirus outbreak. Under the state aid Temporary Framework, the scheme is open to companies of all sizes activating in all sectors, except the financial sector. The public support, in the form of direct grants, aims to mitigate the economic difficulties and the liquidity shortages that the beneficiaries are facing due to the restrictive measures that the French government imposed in an effort to limit the spread of the coronavirus.
On 22 March 2021, under EU state aid rules, a French scheme with a budget between €140 and €700 million, to compensate ski lifts operators for the damages suffered due to the restrictive measures introduced to limit the spread of the coronavirus. The aid, in the form of direct grants earmarked to cover up to 49% of the estimated turnover loss, aims to compensate the ski lift companies operating in winter sports resorts. On 31 March 2021, the Commission approved aid for the reconstruction of hall 3 in Parc d’Expositions du Bourget in view of the Olimpic and Paralympic Games in 2024.
To find out more about France’s aid scheme, click here.
