The financial support program for large companies and SMEs with a turnover of more than 20 Million Lei in 2019, implemented by EximBank under the special mandate of the Romanian state will be in force all year long due to the extension of its validity up to December 31st 2021.
The companies that fall under the above-mentioned categories benefit from a six months period of extended availability of the state aid financing and guarantees products thus enabling them to continue filing the respective applications.
”The flexibility and adaptive features of EximBank have enabled us last year to develop fast a new portfolio of state aid products that support access to financing for the companies impacted by the COVID-19 pandemic in terms of available cash and intensifies the effects of other support measures implemented by the authorities. Companies with a total turnover of almost 21 Billion lei in 2019 have benefited from the facilities since the official launching of the program and the demand is keeping a high pace. That is why the extension of the implementation period has been necessary so that all the intentions expressed by the potential beneficiaries and financing banks could be met. We are thus continuously sustaining our commitment to support the Romanian business environment and the official endeavors for accelerating the growth trend of the local economy,” said Traian Halalai, Executive President of EximBank.
The COVID-19 state aid facility aiming at large companies and SMEs with a turnover of 20 Million lei in 2019, offers investment and working capital loans with subsidized interest rate and state guarantees covering up to 90% of the necessary guarantees for new or on going loans granted by the commercial banks for investment or working capital for current business activity of the beneficiary companies.
The program launched in October 2020 by EximBank is ensuring the level playing field for interested eligible Romanian companies compared to European ones, offering support at the maximum intensity allowed by the Temporary Framework of the European Commission.