(Bloomberg) -- Germany’s ruling coalition has agreed on a financial-aid package for companies suffering from the fallout of the Ukraine war and the economic sanctions against Russia.

Details of the support measures -- which are said to include a loan program by the KfW state development bank as well as direct financial aid -- will be announced at a news conference by Finance minister Christian Lindner and Economy Minister Robert Habeck at 1:30 p.m. in Berlin.

“Doing nothing is not an option at this time,” Lindner, who is chairman of the pro-business Free Democrats, said Friday in a speech to the lower house of parliament.

With companies suffering from the fallout of the Ukraine war and the economic sanctions against Russia, Chancellor Olaf Scholz’s ruling coalition is attempting to bolster the economy and dampen the impact of soaring prices.

A person familiar with the latest support measures for companies told Bloomberg Thursday that the state will secure 90% of the KfW loans.

Major companies deemed systematically relevant will be offered direct financial aid, similar to the economic stabilization fund created to offset the impact of the coronavirus pandemic, the person said. However, the volume of this fund will be significantly lower and range in the single-digit billions of euros.

©2022 Bloomberg L.P.