On Thursday 17 November, the European Commission authorised €500 million in Romanian support for companies in various sectors in the context of Russia’s war against Ukraine.
The scheme was authorised under the State aid Temporary Crisis Framework adopted by the Commission on 23 March 2022 and amended on 20 July and 28 October 2022.
The aid will take the form of guarantees on loans and subsidised loans.
The measures will be open to small and medium-sized enterprises (SMEs) with an annual turnover of more than four million euros and to large enterprises in all sectors (except gambling, insurance, real estate activities, energy and fuel distribution and trade). Financial and credit institutions will also be excluded.
The guarantees will cover up to 90% of the loan or financial lease principal. Losses will be sustained proportionally by the credit institutions and the State.
The budget allocated to the second measure, for which aid will be provided in the form of subsidised loans, amounts to €200 million.
The amount of individual aid per beneficiary will be equal to either 15% of the beneficiary’s average total annual turnover over the last three closed accounting periods or 50% of the energy expenditure incurred over a 12-month period preceding the application for aid. (Original version in French by Lionel Changeur)