New allocation strategy for the EUR 200 mln grants for RO HoReCa sector

The emergency ordinance for providing state financial support to entities in the HoReCa sector, worth RON 1 billion (EUR 200 mln), was published in the Official Journal. The grants will be paid within the budget approved, the Economy Ministry announced on February 25, according to Romania-Insider.com.

Within 60 days, the ministry will draft the procedures and set up the body to distribute the grants. The grants will reach the beneficiaries by the end of June at the latest.

The major change compared to the initial version of this support scheme, which was announced at the end of last year, is that the grants will no longer be allotted on a first-come-first-serve principle to avoid leaving some of the companies without any support. Instead, if the financing requests are higher than the scheme’s budget, the money will be allocated pro-rata, which means that all applicants will get an equal fraction of the sum they requested, economy minister Claudiu Nasui said, quoted by News.ro.

The grants for the HoReCa sector will cover up to one-fifth of the revenue drop incurred by the companies in 2020 versus 2019.

Read more HERE

Comments

comments