The French government wants the programme up and running by early next year as it battles the economic impact of the Covid-19 pandemic. — Reuters pic
Under plans to be presented to the financial sector on Monday, banks would first lend to small and mid-sized firms and then sell on 90 per cent of the loans to institutional investors, people familiar with the proposals told Reuters. “The discussion is going well, the European Commission is very interested in the programme, but we haven't landed on a precise number yet,” a finance ministry source said.
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