State aid beneficiaries affected by the ROBOR increase, supported through a de minimis aid scheme of over 86 million lei.
The de minimis scheme, with a budget of 86,560,000 lei, will finance interest differences that cannot be covered by the state aid approved through the financing agreements.
"If we want to ensure an attractive investment environment, we must come to taxpayers, who are by our side, as honest partners. Through state aid schemes and such de minimis aid measures, we come with concrete support. I proposed this scheme from the Ministry of Finance budget so that entrepreneurs can cover the interest rate differences that arose as a result of the ROBOR increase, thus giving them the opportunity to do what they do best, that is, to focus on developing the businesses they have built.", explained Minister Marcel Boloș.
At the time of issuing the financing agreements, the interest value was calculated ex ante for 8 months, respectively 24 months, from the date of granting the loan and consequently the state aid mentioned in the financing agreement for the beneficiary was calculated taking into account a certain value of ROBOR.
Given the effects generated by the crisis caused by Russia's aggression against Ukraine, the economic situation and the energy market were significantly affected, there were massive increases in ROBOR compared to the ROBOR interest rate provided for in the financing agreements, which led to an increase in the amount of state aid in the form of a grant (covering interest and fees) above the limit provided for in the financing agreements.
The program will be valid until June 30, 2024, in compliance with the provisions of the annual state budget law and the provisions of Commission Regulation (EU) 2023/2831 of 13 December 2023 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid, and payments under this scheme will be made until December 31, 2025.
The de minimis aid related to interest is paid from the state budget, through the budget of the Ministry of Finance - General Actions and is transferred quarterly to the FNGCIMM/FGCR/FRC account, based on the centralizing statements regarding the monthly interest due, transmitted by credit institutions.
The implementation of the Program aims to:
- granting de minimis aid to 9,200 beneficiaries;
- maintaining jobs and avoiding the destruction of the capital of SMEs and mid-cap companies, a fundamental part of the Romanian economy;
- ensuring for each beneficiary of the state aid schemes implemented in the context of the economic crisis generated by the COVID-19 pandemic the payment of the 8, respectively 24 months of interest provided for by the legislation;
- ensuring the necessary measures for the development of current activity as well as for the continuation and completion of investments initiated by the beneficiaries of the IMM INVEST ROMANIA program by accessing the financing guaranteed under the program;
- rapid access to the Program through collaboration with credit institutions that currently finance SMEs and mid-cap companies and implementation through FNGCIMM/FGCR/FRC, Guarantee Funds intended to support SMEs and mid-cap companies.
