some measure taken by france govt. to overcome situations of covid 19 (explanation)
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In an effort to halt the spread of the novel coronavirus COVID-19 (“COVID-19”), on March 14, 2020 the French government mandated a shut-down of non-essential businesses and other venues open to the public. The shut-down will last at least until April 15, 2020. Among the businesses concerned are retail stores, shopping centers, and restaurants. Businesses are authorized to continue their online activities and related deliveries. The shut-down does not impact businesses that are considered “essential to the life of the nation”, such as food shops, drugstores, banks, and gas stations (the list is much longer).
Further, on March 16th the French government implemented a lock-down, currently due to end on April 15th, but which may be extended for another 15 days. Movement is restricted, but people are still allowed to go to work if it is not possible for them to work from home. In light of these constraints, many businesses have had to adapt their way of functioning by allowing all or most of their employees to work from home or by implementing special safety measures. As in many places in the world, the COVID-19 pandemic is also impacting the ability of certain businesses to satisfy their contractual obligations.
Emergency Law no. 2020-290, dated March 23, 2020, empowered the French government to take emergency measures in order to address the negative consequences of the current restrictive measures, and in particular to prevent companies from going out of business. The government has since issued thirty-seven ordinances and numerous decrees and orders implementing the measures contemplated by the Emergency Law.
In addition, Law no. 2020-289, also dated March 23, 2020, and which modifies the French 2020 Finance Law, provides that for up to €300 billion of loans granted to businesses by banks and financial institutions between March 16, 2020 and December 31, 2020, the French State will guarantee up to 90% of an eligible loan. An eligible loan must provide a 12-month payment deferral and an option for the borrower to elect at the end of the first year to repay its loan over an additional period of up to five years.