France Announces $4.3 billion Relief Program for Startups

France, French government, startups, relief program, coronavirus, COVID-19, cash flow, Ministry of State for Digital Affairs
France Announces $4.3 billion Relief Program for Startups

In a bid to help startups afloat during the current economic slowdown due to coronavirus (COVID-19) outbreak, the French government has announced a relief program worth $4.3 billion. The aim is to support a startup ecosystem struggling to survive the COVID-19 pandemic.

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The relief program has been initiated by France’s Ministry of State for Digital Affairs Cédric O and public investment bank Bpifrance.

Several startups are not yet making revenues, and to keep them running, the program will facilitate short-term refinancing. It will also offer certain guarantees for lost cash flow. The government is still working out the criteria for which companies will qualify.

Source: https://venturebeat.com/2020/03/25/france-creates-4-3-billion-coronavirus-relief-program-to-save-struggling-startups/

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