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Pandemic's economic impact could be 500,000-plus jobless and 300,000 companies going insolvent (consultants)

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A severe economic impact of the COVID-19 crisis could mean more than 500,000 jobless and over 300,000 companies going insolvent or bankrupt in the next period; accessing non-reimbursable funds with European support or from the government could be a solution to avoid this scenario, shows a report released on Wednesday by REI Finance Advisors - a consulting company specializing in attracting EU funding and state aid for the companies operating in Romania, according to AGREPRES.

According to the cited document, the effects of the economic difficulties that both employers and employees may face could be felt only starting next year.

The working capital grants provided under OUG No. 130/2020, generally known as Measure 2, represent "a real breath of fresh air for many businesses".

According to official data, as of August 28, 2020 Romania had attracted a total of 12.8 billion euros, representing 42.3 percent of the total allocation for our country under the 2014 - 2020 European funding program, and European Commission figures cited by REI Finance Advisors show that in the period 2014 - 2020 Romania could have benefited from a budget of over 36.7 billion euros in non-reimbursable funds, being the sixth EU country with the most generous budget for European investments.

REI Finance Advisors and REI International Consulting, members of REI Grup, specialize in devising, implementing and monitoring investment projects both through European non-reimbursable funds (the Regional Operational Program, the Large Infrastructure Operational Program) and through state aid schemes (the Government's Decision No. 495/2014, the Government's Decision No. 807/2014, the Government's Decision No. 332/2014, OUG No. 81/2019).

REI Group managed to attract funding for more than 250 projects nationwide, with over 100 projects implemented and a 99 percent success rate. In 2019, REI Grup had projects approved worth 80 million euros, and this year the value of the approved projects will exceed 200 million euros.

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