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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)