The European Commission approved, on November 17, a state aid scheme worth approximately EUR 500 mln (RON 2.5 bln) notified by Romania to support businesses in all sectors in the context of the war waged by Russia against Ukraine.

This includes the EUR 300 mln scheme announced by the Government for the firms processing grain and milk, who are supported to build up raw material stocks.

The EUR 0.5 bln indicative value of the schemes does not, however, represent the cost to the public budget.

Under the schemes notified to the EC, the Romanian Government will guarantee 90% of loans in the amount of EUR 300 mln and subsidised loans in the amount of EUR 200 mln.

The value of the individual aid (subsidy) per beneficiary will be equal to 15% of its average total annual turnover of the last three closed accounting periods or 50% of the energy costs incurred in a 12-month period preceding the aid application.

andrei@romania-insider.com

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