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EC approves Romania's 300 mln euro support scheme for coronavirus-hit agri-food cos

Author Tudor Popescu
EC approves Romania's 300 mln euro support scheme for coronavirus-hit agri-food cos European commission.

BUCHAREST (Romania), May 25 (SeeNews) - The European Commission (EC) announced on Wednesday that it has approved a 300 million euro ($319.8 million) Romanian state aid scheme in support of agri-food entities which have been impacted by the coronavirus pandemic.

The aid aims at mitigating the liquidity shortages that these companies are facing and at addressing part of the losses they incurred due to the coronavirus pandemic and the restrictive measures that the Romanian authorities had to implement to limit the spread of the virus, the EC said in a press release

Approved under the State Aid Temporary Framework, the scheme also addresses the liquidity shortages incurred by small and medium-sized enterprises (SMEs) active in the agriculture, fishery, aquaculture and food industry sectors.

The scheme will take the form of direct grants up to 120,000 euro per entity and will run until June 30 2022.

($=0.9367 euro)

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