The European Commission has approved a EUR 300 mln (RON 1.5 bln) Romanian scheme to support agri-food entities in the context of the coronavirus pandemic.

The scheme was approved under the State Aid Temporary Framework.

Under the scheme, the public support will take the form of direct grants of up to EUR120,000 (RON 593,000) per beneficiary.

The scheme will be open to small and medium-sized enterprises active in the agricultural, fishery, aquaculture, and food industry sectors.

The measure aims at mitigating the liquidity shortages that these companies are facing and at addressing part of the losses they incurred due to the coronavirus pandemic and the restrictive measures that the Romanian authorities had to implement to limit the spread of the virus.

(Photo: Andres Oliveira/ Dreamstime)

andrei@romania-insider.com