31.6 Mln EUR In European Funding: SME Ministry Signs Financing Agreements

Constantin Nita, Minister of Small- and Medium-Sized Enterprises, Commerce and Business Environment, has signed 14 of the 38 contracts of the small- and medium-sized enterprises selected for financing with European Union funds, having a total value of 31.6 million EUR. The ceremony was also attended by Prime Minister Emil Boc.

"We hope that small- and medium-sized enterprises will be more confident about accessing European funds. Our wish is to use all of the 200 million EUR allocated this year for investments in small- and medium-sized enterprises. For the time being, we are struggling to reduce the necessary documentation and facilitate your access to these funds," said SME Minister Constantin Nita.

According to him, the recently signed contracts were based on European funds allocated for 2008, but steps are being taken to finalize the procedure for obtaining the 80 million EUR allocated for 2009. Of the 700 applications submitted for 2009, 44 concern large investments of up to 1.5 million EUR.

• Of the 38 winning companies, only 2 from Bucharest

Of the 38 companies selected to receive European funding, only two are registered in the commercial heart of the country, Bucharest. Another five are registered in Brasov County, four in Dolj County, three in Cluj County and one in Satu Mare County and one in Maramures County. Most of the selected companies are producers of apparel, metallic structures, advertising materials and furniture and automotive dealers.

Florin Secara, Managing Director of Vertical Ambient, a furniture producer in Prahova County, told BURSA that his business had achieved a 50% growth compared to 2008 so he felt encouraged to consider accessing further European funding in the future. His project was focused on modernizing production with improved equipment and machinery. Of the total cost of 1.2 million EUR, 60% was covered by the European Union and 40% by the company"s own resources.