IMM Invest platform set up by the Gov’t to restart the domestic economy, not functional. FinMin talks about a cyberattack

IMM Invest platform, where companies can access guaranteed loans, has been inaugurated on Friday morning by the Finance minister. However, the platform is not working.

The general manager of the National Loan Guarantee Fund for SMEs, Dumitru Nancu told Hotnews that the STS had informed him it had been a cyberattack on the platform and that’s why it’s not operational.

In his turn, Finance minister Florin Citu confirmed there is a cyberattack. “There are probably the same characters who are slinging mud to us. No problem, we are moving on. We’ll find out who is behind and we’ll expose them in public. I assure all that as long as the website is not functional no one will be registered. I won’t allow any trick”, Citu said.

The platform aims to help SMEs to continue their activity during the coronavirus lockdown. The guarantee cap of loans provided by the government mounts to RON 15 billion (representing 3 pc of GDP) and it can be increased if needed.

22 banks have joined the programme.

SMEs that need loans to continue their activity can access them, with the government covering for a guarantee up to 90%.

“Romania’s Government is kicking off the third programme to help the domestic economy. After the first programme on technical unemployment, and the second one to delay the mortgages of the banks’ clients, we are starting the SMEs programme,” said FinMin Florin Citu, adding that interest and errands will be paid by the state.

If a company is turned down by a bank, it can file for the loan to another one.

The programme will be operational by the end of this year, regardless of the coronavirus pandemic’s evolution. The programme is a state aid scheme approved by the European Commission.

SMEs will also benefit of support to get access to the financing, with the state guaranteeing 50% of the loans for investments  or of the credit lines to fund the working capital.