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Romania calls on investors to apply for funding through state aid scheme

Romania calls on investors to apply for funding through state aid scheme Finance ministry, Romania

BUCHAREST (Romania), May 22 (SeeNews) - Romania's finance ministry encouraged investors on Wednesday to apply for financing through a state aid scheme.

In order to facilitate access to finance for as many major investment projects as possible, the ministry has adopted this year a number of changes aimed at making the state aid scheme simpler and more flexible, it said in a press release. Among the changes implemented, the ministry mentioned the lowering of the minimum investment project ceiling to 1 million euro ($1.12 million).

According to the 2019 state budget law, Romania will grant state aid in excess of 1.6 billion lei ($375 million/336 million euro) for investment projects with a total value of over 4 billion lei.

"It is the largest annual budget allocated from the beginning of the scheme to the present day," the ministry said.

During September 2018 - April 2019, the finance ministry has approved financing agreements for 28 investment projects, of which 12 will be implemented by companies with Romanian capital. These investment projects will generate a total of 4,455 new jobs and have a significant contribution to regional development, estimated at 1.21 billion lei.

(1 euro=4.7625 lei)