The scheme was approved under the State Aid Temporary Framework adopted by the Commission, the EU’s executive body said in a press release Wednesday.
Under the scheme, the aid will take the form of direct grants for investments in productive activities, up to a maximum amount of EUR1 million per beneficiary.
The scheme will be open to SMEs active in sectors particularly affected by the coronavirus outbreak, such as processing industry, construction, wholesale and retail trade, repair of motor vehicles and motorcycles, transport and storage.
In order to be eligible, companies must have been established in Romania by December 31, 2018 and must have recorded operating profits over 2019. The scheme is expected to benefit 4,000 companies.
“The Commission has found that the Romanian scheme observes the terms and conditions stipulated in the temporary framework. The aid will not exceed EUR1.8 million per beneficiary, as provided in the temporary framework, and the aid will be granted on December 31, 2021 the latest. The Commission concluded that the measure is necessary, adequate and proportional to remedy a severe disruption of the economy of an EU Member State, in accordance with article 107, paragraph (3) letter (b) of the Treaty on the Functioning of the European Union (TFUE) and on the conditions of the temporary framework. On this basis, the Commission has approved the measure under the EU norms regarding state aid”, the statement reads.