National schemes

H.G. no. 807/2014 establishing certain State aid scheme with the object of stimulating investments that have a major impact on the economy.

Characteristics

Duration

The registrations of applications for financing agreements is in continue session.

The Ministry of Public Finance publish on its website the announcement regarding the opening of the call of proposals at the following address: www.mfinante.ro – Agenti economici – Ajutor de stat – H.G. nr. 807/2014.

Financing agreements can be issued pursuant to this scheme until December 31, 2020, under observance of the legislation in the field of State aid, within the limit of the annual budget allocated to the scheme.

The State aid is to be paid between 2015 and 2023, pursuant to the financing agreements issued and within the limit of the annual budget allocated to the scheme.

Scope

The purpose of this scheme is regional development, through the performance of initial investments in high technology fix assets in order to develop products with a major added value, regardless of the size of the company.

The total value of an investment project must be minimum 44 million lei (about 10 million euro at an exchange rate of 4,4 lei/euro).

Special aspects

Non-reimbursable amounts are paid by the authorities in Treasury accounts
Fixed assets procured / developed within the project could be pledge in bank’s favour only with an agreement from the authorities (it is not clearly mentioned when it is granted or not this "derogation").

Eligibility

Eligible beneficiaries

The companies which can request state aid pursuant to that scheme are start-ups, SMEs and large enterprises, registered according to the Companies Law no. 31/1990, republished, as subsequently amended and supplemented.

Eligible investments

Eligible investments are considered the initial investments in tangible and intangible assets within the same perimeter, related with the capacity expansion of an existing unit, diversification of the production of an existing unit - obtaining products which were not previously made by that unit or a fundamental change in the general production process of an existing unit.

Eligible expenditure are considered the costs exclusive of VAT corresponding to the performance or procurement, as applicable, of tangible and intangible assets, as well as the expenditure related to the renting of constructions corresponding to the initial investment.

Financing

Level of the State aid

50% of the eligible expenditures for enterprises with investments in all development regions, excepting Bucharest - Ilfov
35% of the eligible expenditures for enterprises with investments in Ilfov
15% of the eligible expenditures for enterprises with investments in Bucharest (2014 – 2017)
10% of the eligible expenditures for enterprises with investments in Bucharest (2018 – 2020)

Total Budget

The maximum budget of the scheme is of Lei 2.7 billion, namely the equivalent of approximately EUR 600 million

The maximum annual budget of the scheme is of Lei 450 million, i.e. the equivalent of approximately EUR 100 million.

Further information regarding detailed financing conditions about that scheme is to be found at: http://www.mfinante.ro/hg807.html?pagina=domenii

Co-financing

UniCredit Bank offers to the clients specific financing products dedicated to the implementation of the project

Comfort letter
Bridge loan
Investment loan
Facilities for non-eligible expenses, including VAT line

For more information regarding the financing products offered by UniCredit Bank, please see UniCredit Bank website.

H.G. no. 332/2014 establishing a State aid scheme to support investments that promote regional development by creating jobs, as amended and supplemented

Characteristics

Duration

The registration of the applications for financing is to be made in sessions of 20 business days, with possibility of extension. The period of registration of the applications will be communicated in due time by the Ministry of Public Finance on its website: www.mfinante.ro – Agenţi economici – Ajutor de stat – H.G. nr. 332/2014.

Financing agreements can be issued based on this scheme by December 31 / 2020, under observance of the legislation in the field of State aid.

The State aid is to be paid between 2015 and 2025, based on the financing agreements issued beforehand, within the limit of the annual budget allocated to the scheme.

Scope

The purpose of this scheme is regional development, through initial investments which generate the creation of minimum 10 new jobs.

Special aspects

Non-reimbursable amounts are paid by the authorities in Treasury accounts
Fixed assets procured / developed within the project could be pledge in bank’s favour only with an agreement from the authorities (it is not clearly mentioned when it is granted or not this "derogation")

Eligibility

Eligible beneficiaries

Eligible investments

Eligible investments is considered which generate the creation of jobs in all the sectors, with the

exception of those provided by the “List of activity sectors which do not benefit from State aid, provided in Appendix no. 1 at Applicant Guide, in accordance with the low in force.

Eligible expenditure is considered salary costs, registered for a term of 2 consecutive years, following the creation of jobs, if the following conditions are fulfilled:

The jobs are created directly by an investment project;
The jobs are created after the date of receipt of the financing agreement, but not later than 3 years as of the date of completion of the investment.