The Commission said in a statement that the scheme was approved under the State aid Temporary Framework, whereby the aid may be granted under the form of subsidized loans and state guarantees for loans.
According to the Commission, the scheme will be managed by the development division of EximBank and the system will be open to small- and medium-sized enterprises (SMEs) with a turnover of over RON20 million in 2019, and to large enterprises.
Per the Commission, the measures target to improve companies’ access to financing, which will allow them to continue their business activities during the coronavirus pandemic and afterwards.
The Commission concluded that the measures are necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State.