BUCHAREST (Romania), December 4 (SeeNews) – The European Commission said on Friday it has authorised a Romanian temporary aid scheme to grant compatible aid of up to 500,000 euro ($754,000) per company until 2010 to help businesses deal with the current economic crisis.
"The scheme will help alleviate the difficulties faced by Romanian businesses affected by the current situation without giving rise to any undue distortions of competition”, Competition Commissioner Neelie Kroes said in a statement.
The scheme meets the conditions of the Commission’s temporary framework for state aid measures, as it is limited in time and respects the thresholds. In particular, the maximum amount of aid does not exceed 500,000 euro per company and the scheme applies only to businesses which were not in difficulty on July 1, 2008.
The aid will be granted in form of direct grants, interest rate subsidies, subsidised public loans, rescheduled public debt waiving the interest rates.
($ = 0.6629 euro)