The Romanian Government disbursed only 21 working capital grants, of up to EUR 150,000 each, last week - fewer than the 38 grants disbursed in the week before, Ziarul Financiar reported.

The Executive is thus disbursing money at a very slow pace under the second measure of the program aimed at supporting COVID-hit small and medium sized enterprises and the same can be said about the first measure.

Thus, only 42 microgrants of EUR 2,000 each were disbursed last week, compared to 48 in the week before.

The Ministry of Economy announced that it disbursed 17,193 micro-grants worth EUR 2,000 each (0.24% of them in the last week) and 3,068 working capital grants (nearly 0.7% of them last week) of up to EUR 150,000 each by Friday, March 12.

The total value of micro-grants disbursed reached RON 166.4 mln (EUR 34 mln), and that of working capital grants amounted to RON 1.08 billion (just over EUR 200 mln).

Minister of economy Vlaudiu Nasui assured that now, once the Ministry of Economy was separated (from the Ministry of Energy) as an independent entity, the pace of disbursement will increase.

The third measure, including investment grants, remains blocked however as irregularities were spotted in the selection procedures.

About 22,226 SMEs applied for a working capital grant of up to EUR 150,000, of which, as of March 12, 19,515 had been processed, 2,733 had been rejected and 16,726 had been admitted.

The 3,068 grants already disbursed accounts for less than one fifth of the total approved.

(Photo: Octav Ganea/ Inquam Photos)

andrei@romania-insider.com