European funding for projects of at least EUR 5 million in Romania

A European funding session which provides financing for projects over EUR 5 million is currently open and is suitable for hotels, clinics and hospitals, among others. There are EUR 200 million allotted for this line.

By Roxana Mircea

General conditions

In December 2010, the Government Decision 1680/2008 was changed so that the minimum value of the project has to be EUR 5 million, which would allow such projects to finance accommodation units like hotels, apart-hotels, as well as leisure structures: spas, water parks and also clinics and hospitals.

In the case of production and health it is possible to apply only for equipments, while for accommodation and leisure structures one has to apply both for construction and equipments, furniture etc.

Example: if you have a building that is suitable for a hospital/clinic and you have at least EUR 2.5 million, you could apply in order to buy the equipments, with 50 percent non-refundable.

This line is very attractive for industry but also for investors, land owners that are suitable for such projects.

Financed activities and percentages

The percentages covered through the non-reimbursable funding are 40 percent for Bucharest and Ilfov and 50 percent for the rest of the country.

Example: If you have a EUR 10 mil euro project, such as a hotel in Brasov, you could get EUR 5 million non-refundable.

All types of activities, excluding agriculture, processing primary products, fishing, the extraction of carbon are financed through this line.It is possible to apply only for equipments if the value is minimum EUR 5 million.

Conditions to apply

The main request regarding this line is that for a project between EUR 5-10 million you have to create and maintain 50 new jobs; for a project between EUR 10-20 milliono-100 new jobs, 20-30-200 new jobs; over EUR 30 million-300 new jobs. You can apply with a new firm or old firm, as long as it doesn’t have losses.

There is some standard cost for the construction, (not for the equipments) so if you spend more, the project it is not eligible: 750 euro per sqm for accomodation and leisure structures, 850 euro per sqm for hospitals and clinics and 370/425 euro per swm for arehouses.

The project can be implemented in maximum three years.

Requested documents

The best parts of this line are:

-you may apply with a new firm,

you submit only a draw and a devise, not the final architectural project;

you also have to prove the financial capacity(letter of confort if you take a loan from a bank) and the management according to the activity.

The society must present a technical-economical study and a plan of investment, with financial previsions for the period of implementation for more than five years.

The project is evaluated in 30 working days and the money are reimbursed in 45 working days.

Have you had issues with accessing European Funds in Romania? What was your experience with EU-funded projects in this country? Feel free to leave a comment below or send us an e-mail to [email protected]
Good luck!

Roxana Mircea is a specialist in non-refundable state aid and in EU- funded projects. She has been working in these areas since 2007 and has coordinated more than 130 such projects. To get in touch with her, e-mail roxana.mircea[at]fonduri-europene.tel

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