Romania boosts state aid scheme budget by close to 50 percent

The government has decided on Wednesday to increase the budget for a state aid scheme that supports large scale investments in Romania.

The annual financing for the scheme under Government Decision 807/2014 will go up from EUR 100 million to EUR 145 million, in the amended version of the legislation.

The government said it changed the law due to growing interest from large companies to make high tech investments in the country.

“In addition, the mechanism for submitting the financing agreement requests will be changed from continuous sessions in distinct sessions of 30 days, with the selection of beneficiaries being done based on a score set on computation criteria, thus ensuring an equal treatment for companies that ask for financing, while also making the assessment process of beneficiaries more efficient,” according to a press release.

This state aid scheme doesn’t have to be vetted by the European Commission. However, the executive arm of the EU has to know what companies receive this kind of aid in Romania.

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GD 807/2014 applies for investments of at least EUR 10 million.

Some of companies that have received state aid under this program include German car parts maker Bosch and French car maker Dacia.

The state aid program is managed by the Ministry of Finance and runs through to 2020.

Ovidiu Posirca