PARIS, April 26 (Xinhua) -- The French government will guarantee 11 billion euros (13.3 billion U.S. dollars) in equity long-term loans to bolster finances of struggling small and medium-sized enterprises (SMEs), Minister of the Economy, Finance and the Recovery Bruno Le Maire said Monday.
"Manufacturers are regaining confidence and re-investing. And for those ready to kickstart their activities, we will make available 11 billion euros in equity loans at the beginning of May," Le Maire told the Europe 1 radio.
"In the next two weeks, there will be more money for all companies that will be able to invest, hire and create jobs again," he said.
The state will guarantee the loans with a duration of eight years and a four-year grace period, he added.
Cinemas, theaters, cafes, bars, restaurants and non-essential shops in France have been closed, as the country entered its third anti-virus lockdown in late March.
Last year, the French government mobilized 460 billion euros, representing 20 percent of the country's gross domestic product, to help companies stay afloat through the coronavirus outbreak. The fund consisted in large part of tax and payroll charge deferrals, in addition to specific plans to rescue the worst-hit sectors. (1 euro = 1.21 U.S. dollars) Enditem