The European Commission has approved around €3.3 billion in support to Romania’s small and medium-sized enterprises (SMEs) in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the European Commission.
Under the scheme, support will be granted in the form of direct grants as well as state guarantees for investment and working capital loans.
The support under the scheme will be accessible to SMEs facing difficulties as a result of the economic impact of the coronavirus outbreak. The aim of the scheme is to help businesses cover their immediate working capital or investment needs, thus ensuring the continuation of their activities.
Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “This €3.3 billion Romanian scheme will enable Romania to help SMEs cover investment and working capital needs in these difficult times, through the provision of direct grants and public guarantees on loans. We continue to work in close cooperation with Member States to find workable solutions to mitigate the economic impact of the coronavirus outbreak, in line with EU rules.”