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EC approves Romania's EUR 358 mln support scheme for COVID-hit SMEs

EU

The European Commission said on Wednesday that it has approved Romania's EUR 358 million scheme to support small and medium-sized enterprises (SMEs) active in sectors particularly affected by the coronavirus outbreak.

The scheme was approved under the state aid temporary framework adopted by the Commission, the EU's executive body said in a press release.

Under the scheme, the aid will take the form of direct grants for investments in productive activities, up to a maximum amount of EUR 1 million per beneficiary.

The scheme will be open to SMEs active in sectors particularly affected by the coronavirus outbreak, such as processing industry, construction, wholesale and retail trade, repair of motor vehicles and motorcycles, transport and storage. It is expected to benefit 4,000 companies. 

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