The Commission said the scheme was approved under the State Aid Temporary Framework.
The public support, under the form of direct subsidies, will cover up to 20% of revenue losses (or, in the case of some travel agencies applying a special system, the volume of invoices issued for tourism services, including the margin) registered by the beneficiary between January 1 and December 21, 2020, compared with the same period in 2019.
“The measure aims to help beneficiaries to cover their liquidity needs and to continue their business activities during and after the pandemic. 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 said in a statement.
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.