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France on Friday announced an emergency loan programme to support small and medium-sized businesses affected by rising fuel prices linked to the war in the Middle East.
The economy ministry said companies in the transportation, agriculture and fisheries sectors will be eligible for the scheme, which offers “flash fuel loans” worth up to 50,000 euros ($57,600).
The initiative follows a pledge made last week by Prime Minister Sebastien Lecornu, as governments around the world seek to limit the economic impact of surging energy costs triggered by the conflict.
Under the programme, France’s public investment bank Bpifrance will provide the loans through a streamlined digital process, allowing businesses to access funds within seven days, according to a government statement.
The loans will run for three years and carry an interest rate of 3.8 percent.
Separately, Economy Minister Roland Lescure said he had written to the European Commission requesting an investigation into whether European refineries were taking advantage of the conflict to engage in price manipulation in fuel markets.
