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The geopolitical crisis caused by the war in Ukraine is having a major impact on the Luxembourg economy.

With the aim of supporting Luxembourg companies, Banque de Luxembourg has worked closely with the Ministry of Finance, the Ministry of the Economy and five other Luxembourg banks to set up a state-guaranteed loan for companies affected by the economic consequences of the conflict.


On 27 July 2022, Finance Minister Yuriko Backes signed an agreement with Georges Heinrich, Secretary General at Banque de Luxembourg, and with representatives of 5 banks, framing the State-guaranteed loan scheme in favour of the Luxembourg economy in the context of the war in Ukraine.


The terms and conditions of the state-guaranteed loans are as follows:


  • State-guaranteed bank loans to companies that, for various reasons, are suffering from the economic consequences of the conflict in Ukraine
  • Suppletive state guarantee for 90% of the loan (capital, interest and incidentals).
  • The remaining 10% will be covered by the bank
  • The loan is from a bank to a company or professional: it is not a state loan
  • Loans granted between 1 May 2022 and 31 December 2022 to legal or natural persons established in Luxembourg, and more specifically to: skilled workers, traders, industrialists, farmers, winegrowers, the liberal professions and self-employed people in general
  • Exclusions are companies whose principal activity is:

- holding shares in other companies

- real estate development, ownership, rental or trading

These loans may take the form of investment credits or overdraft facilities


Maximum amount:

- 15% of the company's average total annual turnover over the last 3 years, or

- 50% of the company's energy costs over the previous 12 months.

  • Several loans may be granted provided the cumulative amount remains below the authorised ceiling
  • The same loan cannot be combined with other state guarantees
  • Maximum duration 6 years
  • Remuneration of the guarantee depends on the size of the company and the duration of the loan

Let's discuss how I can help you

Charles Sunnen
Business Adviser
Sandro Berettini
Business Adviser