Government Decision regarding the allocation of guarantees to IMMs and large enterprises
On September 20, 2010 came into force the government decision no. 112/2010 for the approval of the regulation regarding the establishment of a state aid scheme meant to facilitate the access to finance in current economic and financial crisis period, consisting of guarantees granted to IMMs and large enterprises.
The beneficiaries of the scheme established by the present regulation are legal persons which operate in Romania, namely IMMs and large enterprises that were not in financial difficulty on July 1, 2008, but who are in financial difficulty at the moment the guarantee is requiested, due to the global financial and economic crisis.
The fund for the provided guarantees has a total of 450 million lei.
The facilities are given as guarantees and can cover up to 90% of the new investment credit and / or working capital provided by a commercial bank.
These guarantees will be granted on a ”first come, first served” basis. On this purpose, the operators are advised to submit the requests until October 30, 2010, the guarantees being granted until December 31, 2010.