Government launches EUR 600 mln aid scheme for 150 companies

The Government will launch a financial aid scheme for companies available until 2020 with a total budget of RON 2.7 billion (EUR 600 million), geared towards non-refundable financing of acquisitions of tangible and non-tangible assets for initial investments. Payments will be rolled out between 2015 and 2023, writes Mediafax.

In order to benefit from this form of state aid, companies will need to implement an initial investment of minimum RON 44 million (EUR 10 million), representing the initial investment in assets within the same perimeter. The government will accept projects where companies are just entering the market or are expanding exiting units, according to the law projects.

The value of the initial investment has been cutdown compared to the initial form of the document released to the media at the start of July, from a minimum of RON 88 million (EUR 20 million).

The new state aid scheme is looking to stimulate investments that can have a major impact on the economy. Based on this project, expenses from acquiring tangible or non-tangible assets will be considered eligible to be funded by the state if all the conditions are met.

The budget will be limited to EUR 100 million in payments per year. The ministry of Finances estimates that 150 companies will be able to benefit from the scheme.

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