Companies will be able to receive state aid for investments over EUR 1 million in their production units, said the Economy Minister Costin Borc.

Until now, the minimum investment eligible for state aid has been EUR 10 million.

The measure is aimed at helping small companies with Romanian capital, the Minister added, reports local Profit.ro. The money is granted through a state aid scheme approved in 2014, which is in place until 2020 and has a total budget of EUR 600 million. The payments have to be made between 2015 and 2023.

The former Finance Minister Eugen Teodorovici announced last fall that the threshold would be cut to half, namely EUR 5 million. In May, the new Finance Minister said that the state aid scheme targeted projects starting from EUR 2 million.

The measure first has to be approved by the Government.

editor@romania-insider.com