Money for companies affected by the war in Ukraine

Companies in our country will be able to apply for financing through a state aid scheme of 2.5 billion euros (12.5 billion lei), a scheme approved by the European Commission, according to a press release issued yesterday by the Community Executive. The companies that will be financially supported are those that have suffered as a result of the war in Ukraine, and the aid scheme has been reintroduced under the Temporary Crisis and Transitional Framework for State Aid adopted by the European Commission on 9 March 2023 and amended in November 20, 2023.

Under the reintroduced scheme, aid will be in the form of guarantees and direct grants. The reintroduced scheme aims to ensure that businesses affected by the economic disruption caused by Russia's war of aggression against Ukraine continue to have sufficient liquidity.

The Commission found that Romania's scheme, as it is reintroduced, still meets the conditions set out in the Temporary Crisis and Transition Framework. In particular, the aid will not exceed EUR 280,000 per enterprise operating in the agricultural sector, EUR 335,000 per enterprise operating in the fisheries and aquaculture sectors and EUR 2.25 million per enterprise operating in all other sectors. The aid will also be granted until 30 June 2024 at the latest.

The Commission concluded that the scheme reintroduced by the authorities in Bucharest is still necessary, appropriate and proportionate to remedy a serious disruption to the economy of a Member State, in accordance with Article 107(3)(b) TFEU and the conditions laid down in the Temporary Crisis and Transition Framework. Based on these considerations, the Commission approved the scheme under EU state aid rules.