A new state aid session begins. Applications shall be submitted until June 10

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Ministry of Public Finance (MFP) on Monday opened a new session of state aid, with a total budget of RON 250 million, and applications can be submitted until 10 June 2016, a press release informs.

The objective of the aid scheme consists of regional development by supporting investment and creating new jobs.

“The amounts are awarded as grants from the state budget for eligible expenses on the nature of wage costs. There have been approved 25 investment projects so far, under the scheme, which will generate 4,074 new jobs, for which it has been approved a state aid of RON 111.3 million,” MFP notes.

In the first stage of the evaluation, MFP checks the fulfillment of compliance conditions, eligibility criteria and calculates a score to be placed in the budget allocated to the scheme.

Selecting the companies requesting state aid is carried out in descending order of their score. The first stage of assessment ends within 30 working days of the closing date of the session.

The EU Commission has revised the state aid rules for 2014-2020. The applicant companies must have no outstanding debts to the state budget; not to be in difficulty, forced execution, insolvency, bankruptcy, dissolution etc.; have no non-executed decisions for state aid recovery and have not benefited from other regional state aid within the same single investment project; have not ceased similar activity in the European Economic Area in the previous two years nor have specific plans to do so within two years of the completion of the investment; the operating businesses have a positive return on turnover and positive equity in the last completed financial year; the newly set-up companies have a share capital of RON 30,000 to RON 100,00 and don’t belong to shareholders who have held other companies with the same NACE code in the past two years.

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