On 26 March 2020, as a result of the Coronavirus the Ordinance on the Grant of Loans and Joint and Several Loan Guarantees (COVID-19 Ordinance on Joint and Several Loan Guarantees) entered into force. According to this Ordinance, businesses are to be provided with sufficient liquidity through bridging loans in order to be able to cover their fixed costs, despite the revenue losses caused by the Coronavirus. Alongside the measures relating to reduced working hours and COVID loss of earnings compensation in order to cover salary costs, which have already approved by the Federal Council, these additional measures offer a comprehensive package of measures to avert the economic consequences of the Coronavirus pandemic.
Dr. iur. Davide Pinelli, Dr. iur. Markus Kaufmann