EC grants Romania EUR 100 mln for small and medium firms

The European Commission has allocated Romania EUR 100 million for small and medium-sized companies for the 2014-2020 period. The money comes from the European Fund for Regional Development. “In a country where small and medium-sized companies represent more than 99% of the total number of enterprises, which face serious external financing needs, this program supports entrepreneurs to have access to lending products in better conditions,” said Corina Cretu, European Commissioner for Regional Policy. According to a recent evaluation, Romania’s external financing deficit for small and medium-sized companies amounts to about EUR 3.4 billion. editor@romania-insider.com