EC approves extension of Romania's 2.5 bln euro state aid scheme

The scheme, sub formă de garanții și de granturi directe, aims to support companies that cannot otherwise continue operating or investing in their development in the context of the crisis triggered by Russia's aggression against Ukraine, the Commission said in a press release on Monday.

Romania's government approved the renewal of the scheme, named IMM Plus, last month.

The programme's budget of 12.5 billion lei includes 11.1 billion lei in loan guarantees. A total of 11,500 beneficiaries will be financed through the scheme, which can be accessed by small and medium-sized enterprises (SMEs) until June 30, 2024.

The loan ceiling for companies in primary agriculture is 280,000 euro, while fishery and aquaculture companies can receive up to 335,000 euro each as part of the scheme. Companies operating in all other fields can access up to 2.25 million euro in loans in total.

(1 euro=4.9678 lei)