SME Invest program extended, Agro IMM Invest Okayed. RON 10 bln cap

The government approved the extension of the SME Invest program and the Agro IMM Invest subprogramme, announced the Minister of Finance Adrian Câciu, at the end of the Executive meeting on Tuesday. At present, the period of validity of the State Aid Scheme is until December 31, 2021, respectively the date until which financing agreements / guarantee contracts are issued.

The extension of the State Aid Scheme will allow SMEs and small mid-cap companies to continue their day-to-day operations and to run investment plans with beneficial effects on the economy.

Thus, according to the new amendments, the ceilings representing state aid will increase to 345,000 euros for each enterprise operating in the fisheries and aquaculture sector, 290,000 euros for each enterprise operating in the field of primary production of agricultural products, 2,300,000 euros for each enterprise operating in the food sector in accordance with the provisions of the Temporary Framework for State Aid Measures to Support the Economy in the Context of the Current Covid-19 Outbreak.

The validity of the state aid scheme is extended until June 30, 2022, respectively the date until which guarantee contracts / financing agreements are issued, the period until which the grant payment can be made being until June 30, 2023, included.

The Executive in Bucharest also approved the ceiling of state guarantees that can be granted within the SME INVEST ROMANIA program for the year 2022 at 10 billion lei, of which 5 billion lei allocated to the AGRO IMM INVEST subprogramme.

The state aid scheme budget will rise to RON 2.345 billion, meaning EUR 473.90 million and the number of beneficiaries was updated to 48,726.