Information COVID-19 - Financial measures

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9, Rue du Gabian (1er étage)

Covid19 Businesses Unit :
(+377) 98 98 98 99

Opening Hours : from 9.00am to 5.00pm from Monday to Friday

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Welcome Office

9, Rue du Gabian (1er étage)

Opening Hours : from 9.00am to 5.00pm from Monday to Friday

Phone : (+377) 98 98 98 98

Fax : (+377) 98 98 48 70

Send us an email

In agreement with the Prince’s Government, the Monaco Association for Financial Activities (AMAF) and the Order of Chartered Accountants (OECM) have put in place special financial support measures for businesses that have experienced an economic impact as a result of the COVID-19 crisis.

All of the measures have been disseminated to members, and it is thus up to each company that is in need of financial support to contact their bank or their chartered or certified accountant.

The measures are as follows:


Interest subsidy

A measure is in place whereby the State can grant preferential interest rates for loans taken out with lending institutions in the Principality in order to help businesses in Monaco. This applies to all types of legal entity.

The Prince’s Government has decided to extend this scheme to cash flow loans sought by companies in the Principality, in acknowledgment of the specific and unique economic situation resulting from the COVID-19 health crisis. The Ministerial Decree no. 2020-253 of 20 March 2020 amending the Ministerial Decree no. 2004-261 of 19 May 2004 pertaining to the establishment of businesses and assistance for companies, amended can be consulted below:


Monegasque Guarantee Fund - Business recovery loan

In light of the difficulties caused by the COVID-19 health crisis, the Prince’s Government put in place provisions for cash flow loans and overdraft facilities, fully guaranteed by the State, to be granted by banks to traders, craftspeople and companies. It is now time to make changes to these provisions in order to support companies as they resume their activities.

In continuation of this measure, from 1 July 2020, the Prince’s Government is introducing a new business recovery loan scheme aimed at companies whose recovery has been heavily impacted by the consequences of the COVID-19 crisis. The following terms and conditions apply to these loans:

  • Bank loan backed by a State guarantee of up to 65% of the amount of the loan; banks must seek a guarantee from the borrower for the remaining 35%
  • Amount: from 35.000 € to 500.000 € 
  • Interest rate set by the bank up to a limit of the 12 months Euribor rate with a floor of O +1.5%
  • Maximum duration of loan and grace period: 5 years including a maximum 6–12 months interest-only grace period
  • Interest subsidy of 0.75% to be covered by the State
  • Loans may be granted in addition to a previously granted COVID loan


Applicants should contact their normal bank.

The bank, as the primary entry point for the measure, will set out for clients the criteria for analysis and the documents that need to be submitted.

The lending institution will then be responsible for preparing the submission to the Monegasque Guarantee Fund.


Please note: 

  • The deadline for companies to submit their business recovery support loan applications to banks is 15 September
  • The deadline for banks to send applications to the Guarantee Fund is 30 September

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Last update: 03/08/2020

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