Companies using European recovery projects on European funds will be able to start collecting money from the first billion euros of 80 billion euros worth of European funds allocated to Romania, in late September or early October, Minister of European Funds Marcel Bolos said on Wednesday.

“The first billion euros [out of 80 billion euros allocated to Romania by the EU, of which 33.5 billion part of the economic recovery package], the one the Ministry of European Funds is managing in partnership with the Economy Ministry is about to reach companies. The good news is that the procedures in relation to the European Commission are quite advanced; as early as next week the decision to approve the state aid scheme for the billion euros could be adopted by the Commission, which means that the procedures we have to go through lead to the deadline of around September 15, the deadline for the companies to submit their financing applications and take possession of the money after concluding the contracts. After September 15, having the opportunity to submit their applications, we can discuss payments after the conclusion of the financing agreements. However, in the second half [of September], early October, the first payments of the one billion euros can be made, so that we can effectively help the companies that are in need,” Bolos told Digi 24 private broadcaster.

Bolos gave additional details about the SME Factor programme under which businesses facing financial hardships due to late payments because of the COVID-19 pandemic receive a government guarantee of 50% of outstanding invoices, a programme under which the amount per company is capped at 5 million lei.

He underscored that there is no limitation on companies’ access to the SME Factor programme. 

Via Agerpres