The European Commission has approved a 126 million Euro Romanian scheme to support investments in ports facing increased trade flows after Russia’s war against Ukraine.

Romania notified to the Commission its plans to support companies active in certain Romanian ports to invest in additional handling or storage facilities for processing goods deviated from their normal trading routes due to Russia’s war against Ukraine, and the collapse of Ukraine’s direct maritime export routes. The scheme, with a budget of 126 million Euro (around 626 million RON), will run until 31 December 2024.

Under the scheme, the aid will take the form of grants up to 10 million Euro to logistics companies active in Romanian maritime and inland ports located on: (i) the eastern border of the EU (Constanta, Galati, Giurgiu); (ii) the Danube – Black Sea Canal (Poarta Alba, Midia, and Navodari); (iii) the Sulina Canal or in the “satellite” ports of Constanța (Midia, and Mangalia).

The aid cannot exceed the lowest of the following amounts: (i) 10 million Euro per beneficiary, (ii) the funding gap, or (iii) 65 percent of the eligible costs of the project.

The measure will be partly funded through EU Cohesion funds and will contribute to the functioning of the EU-Ukraine Solidarity Lanes  by facilitating the trade flows in and from Ukraine.