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EU Funds' Minister announces 750 ml euros in EU funding for SMEs

ioan marcel bolos

The European Commission has approved 750 million euros in financial support for Romania's small and medium-sized enterprises, to which the co-financing from the Romanian state and a possible contribution of the beneficiary will add, taking the total amount of the scheme to one billion euros, Minister of European Funds Marcel Bolos announced on Thursday evening.

"We have, let's say, some very good news. We were talking about the money we are negotiating for small and medium-sized enterprises. The negotiation has come to an end. The European Union has approved for Romania the amount of 750 million euros in European funding to be used for small and medium-sized enterprises, which will be supplemented by co-financing from the Romanian state and a possible contribution of the beneficiaries, of the SMEs, if such a contribution is established. So, the total amount of the scheme is of one billion euros," Bolos told broadcaster B1 TV.

He explained that the method whereby SMEs will access these resources will be finalized in the coming period and that four variants are being considered.

A first possibility is that of grants in a fixed amount proportional to the entity's turnover; a second option is that of grants for investment or for business relocation, as many SMEs whose business no longer works are considering redirecting and relocating their activity. The third option is of American inspiration - consumer vouchers. The last possibility would be to subsidize wage expenses for the SMEs whose activity has been affected during this period with an up to 50 percent subsidy of payroll costs for a period between 3 and 6 months.

Bolos specified that the government will discuss all four support modalities and that they will be made public after a decision is taken.

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