The Belgian Recovery Fund is expanding its activities to include companies affected by the energy crisis, Finance Minister Vincent Van Peteghem and State Secretary for Recovery Thomas Dermine announced on Friday.
The BRF, a business support mechanism, was launched in September 2021 as part of the post-Covid stimulus package. It is endowed with €218 million and serves to strengthen the country’s enterprises through a loan mechanism.
The facility is meant for companies that were financially sound before the health crisis but had to face a reduction in their equity due to the pandemic.
The economic context has since changed. Companies that were financially sound before the outbreak of the war in the Ukraine but have suffered a reduction in their equity due to soaring energy prices can now also turn to the fund.
