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Romania launching 450 mln euro aid scheme for manufacturing sector

Jun 14, 2024, 2:28:17 PMArticle by Alexandru Cristea
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June 14 (SeeNews) - Romania is launching a state aid scheme worth almost 450 million euro ($480.9 million) directed at companies operating in the manufacturing industry, prime minister Marcel Ciolacu said.

Romania launching 450 mln euro aid scheme for manufacturing sector
Romanian prime minister Marcel Ciolacu Source: Marcel Ciolacu/Facebook

The scheme will be financed from European funds and the state budget, Ciolacu said during a government meeting on Thursday.

The state aid scheme will run for three years and will support the establishment of new businesses in the manufacturing sector or the creation of new business lines for existing companies.

Last week, the Romanian government said it has approved the expansion of the IMM Plus state aid scheme for small and medium-sized enterprises (SMEs) by 2.5 billion lei ($536.8 million/502.3 million euro), bringing the total to 15 billion lei.

(1 euro = 4.9771 euro)

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