RO Govt. publishes ordinance for distribution of EUR 1 bln grants

Romania’s Government published in the Official Gazette the emergency ordinance for the disbursement of EUR 1 billion of grants for SMEs, microenterprises, and freelancers.

The program is mainly financed with unused EU funds that must be spent by the end of this year.

Romania’s Government is ready to spend about EUR 5 billion on direct grants to companies to restart the economy after the COVID-19 crisis, according to the National Investment and Economic Relaunch Plan launched on July 1.

As part of this plan, the Government will award EUR 1 bln worth of grants to microenterprises and SMEs for restarting their activity, working capital, and investments.

This includes EUR 2,000 grants for 50,000 microenterprises with no employees and three support schemes for SMEs in the sectors that were hardest-hit by the COVID-19 crisis.

The ordinance published by the Government includes the specific criteria that the firms must meet to get investment and working capital grants.

(Photo: Gov.ro)