January 30 (SeeNews) - The European Commission (EC) has approved the allocation of an additional 695 million euro ($758.3 million) for Romania's funding scheme for support of companies in the context of the Russian war on Ukraine.
The scheme, adopted in March 2022, expired in December and has now been re-introduced until the end of the current year, the Commission said in a press release on Friday.
Under the support measure, Romania can provide companies affected by the disturbance of the economy with guarantees on new loans and grants, which will ensure that sufficient liquidity remains available to them.
In compliance with Commission's requirements, state aid cannot exceed 250,000 euro per beneficiary active in the primary production of agricultural products, 300,000 euro per beneficiary in the fishery and aquaculture sectors, and 2 million euro per beneficiary active in all other sectors.