The Italian government, through Giuseppe Conte, has pledged to immediately provide 400 billion euros in interest-free loans to companies that have been hit hard by the coronavirus pandemic.
The funds for the companies will be in the form of guaranteed loans, with Conte characterizing this package as unprecedented in the history of his country.
"We have also approved the suspension of various tax payments and contributions for the months of April and May," Conte added during his televised address.