Assistance for the Romanian companies

After the IMM Invest programme, the Romanian executive announces another project this time targeting major companies

Daniela Budu, 11.06.2020, 14:00

The government in Bucharest has
endorsed a law guaranteeing loans for the big companies after the IMM
Invest model. The country’s Prime Minister Ludovic Orban on
Wednesday said that this assistance scheme would become operational
after getting the green light from the European Commission, most
likely in two weeks’ time. The Prime Minister has recalled the
principles of this programme.

Ludovic Orban:
This
is a scheme through which we guarantee credits up to 90% subsidizing
interests up to 50%. The initial ceiling of this state assistance
programme is of 1.6 billion euros, which of course we are ready to
increase in case there are more applications.

We are waiting for the European
Commission’s approval because any assistance scheme needs their
approval. We have discussed the issue in principle and we are
optimistic about the results. The scheme is going to become fully
operational shortly after we get the approval we need.

Last week, Finance Minister Florin
Citu announced the ceiling of this assistance programme, which can
benefit the big companies with over 250 employees, including their
branches or partners, could be raised up to 5.8 billion euros.

According to
Florin Cîțu, this programme together with the one destined for
small and medium-sized businesses allow all the Romanian companies to
get access to such financing credits.

As for the IMM
Invest programme, which is addressing companies with over 4.1 million
euros in turnover, the government announced that this programme was
streamlined and declared ready to supplement the allotted budget so
that the number of the enterprises attracting these funds may triple
in a couple of weeks.

The Finance Minister has added the
programme can offer assistance to 40 thousand companies at the most
and if need be the Executive can earmark more money at the next
budget adjustment.

On Wednesday, the country’s
president Klaus Iohannis promulgated a law on approving an emergency
ordinance over the programme of assisting the small and medium-sized
enterprises, which this year provides for a total ceiling of 6.2
billion euros in state guarantees, which can benefit the companies
interested in getting these loans.

(translated
by bill)