Romania wants to extend by six months the period for disbursing the EUR 1 bln grants to micro, small and medium enterprises, financed from EU funds.

Romania will thus apply for the facility extended by the European Commission that allows member countries to delay by six months all the programmes under the Temporary Framework and by another three months those programmes aimed at capitalizing the recipients, Startupcafe.ro reported.

Initially, all the Romanian recipients of the EU grants were supposed to sign the contracts by the end of October this year.

In addition to extending the Temporary Framework for state aid, the EC also decided to introduce a new measure to support companies' uncovered fixed costs.

Thus, the Commission will allow EU Member States to support firms facing a decrease in turnover during the eligible period of at least 30% compared to the same period in 2019 because of the COVID-19 epidemic.

The support will cover a part of the companies' fixed costs, which are not covered by their revenues, up to a maximum of EUR 3 million per enterprise.

(Photo: Pixabay)

andrei@romania-insider.com