March 18 (SeeNews) - The European Commission (EC) approved an EU funding of 400 million euro ($435.6 million) for small and medium-sized enterprises (SMEs) in Romania as part of the country's Start Up Nation programme, said Adrian Caciu, minister of investments and European projects.
Romanian companies will be able to access the funds through a new line of financing starting in the second trimester of this year, Caciu said in a social media post on Saturday.
The EU funds allotted for SMEs will be handled and distributed by Romania's ministry of economy, entrepreneurship, and tourism. Start Up Nation 2024 marks the programme's fourth edition and the first to be financed through European funds, following negotiations that Romania's ministry of investments and ministry of economy conducted with the Commission, as per the statement.
($=0.9183 euro)