The European Commission has approved a RON 16 billion (approximately €3.3 billion) Romanian scheme to support 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 Commission on 19 March 2020, as amended on 3 April 2020.
Under the scheme, support will be granted in the form of direct grants and 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.
The Commission found that the Romanian measures are in line with the conditions set out in the Temporary Framework. The Commission concluded that the Romanian measures are necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Framework.
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.”
Arianna Podesta – Giulia Astuti – Maria Tsoni –