After the IMM Invest programme, the Romanian executive announces another project this time targeting major companies
The government in Bucharest has endorsed a law guaranteeing loans for the big companies after the IMM Invest model. The country's Prime Minister Ludovic Orban on Wednesday said that this assistance scheme would become operational after getting the green light from the European Commission, most likely in two weeks' time. The Prime Minister has recalled the principles of this programme.
Ludovic Orban: "This is a scheme through which we guarantee credits up to 90% subsidizing interests up to 50%. The initial ceiling of this state assistance programme is of 1.6 billion euros, which of course we are ready to increase in case there are more applications.
We are waiting for the European Commission's approval because any assistance scheme needs their approval. We have discussed the issue in principle and we are optimistic about the results. The scheme is going to become fully operational shortly after we get the approval we need."
Last week, Finance Minister Florin Citu announced the ceiling of this assistance programme, which can benefit the big companies with over 250 employees, including their branches or partners, could be raised up to 5.8 billion euros.
According to Florin Cîțu, this programme together with the one destined for small and medium-sized businesses allow all the Romanian companies to get access to such financing credits.
As for the IMM Invest programme, which is addressing companies with over 4.1 million euros in turnover, the government announced that this programme was streamlined and declared ready to supplement the allotted budget so that the number of the enterprises attracting these funds may triple in a couple of weeks.
The Finance Minister has added the programme can offer assistance to 40 thousand companies at the most and if need be the Executive can earmark more money at the next budget adjustment.
On Wednesday, the country's president Klaus Iohannis promulgated a law on approving an emergency ordinance over the programme of assisting the small and medium-sized enterprises, which this year provides for a total ceiling of 6.2 billion euros in state guarantees, which can benefit the companies interested in getting these loans.
(translated by bill)
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