Factsheet for case RO-2017-52/1844 – measures in Romania
|Country||Romania , applies nationwide|
|Time period||Temporary, 27 December 2017 – 30 June 2022|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Access to finance
|Author||Victoria Stoiciu (European Institute of Romania) and Eurofound|
|Case created||11 April 2021 (updated 29 April 2021)|
"IMM Invest" is a governmental program launched back in 2017 through GEO 110/2017 which envisages to assist the small and medium-sized companies (SMEs). The program has been adapted and modified in the context of COVID-19 pandemic, aiming to assist the small and medium-sized companies (SME) affected by the crisis of the COVID-19 pandemic in the provision of working and investment capital in the difficult economic context. The program was modified several times in 2020 and 2021. Under the new provisions adopted in response to the pandemic, appr. 40,000 Romanian SMEs would have access to bank loans under preferential conditions to ensure the continuity of the activity and pay the staff employed during the pandemic period. The Government is willing to guarantee loans of up to €3.09 billion within this program. In March 2021 the Government has extended the timeframe of IMM Invest until June 30th 2021 for evaluating the applications/signing contracts, and until the 30th of June 2022 for making the payment of the grants.
Under the IMM Invest program, SMEs have access to:
SMEs can get two types of loans: for investments and working capital. The credits for investments are up to €2.06 million and can be paid back in 72 months. The working capital loans are up to €1.03 million for medium enterprises and up to €206,000 for small enterprises and can be paid back in 36 months.
Companies eligible for the program: micro-enterprises (up to 9 employees), small enterprises (10-49 employees), medium sized enterprises (50-249 employees). Among the most important eligibility criteria are:
In 2021, the GEO no. 16/2021 extends the timeframe of IMM Invest until June 30th 2021 for evaluating the applications/signing contracts, and until the 30th of June 2022 for making the payment of the grant.
As of 5th May 2020, the National SME Credit Guarantee Fund analyzed more than 47,000 applications received from more than 37,000 SMEs registered in the SME “imminvest.ro” platform and sent more than 20,000 applications for financing to the 22 partner banks.
|Does not apply to workers||
One person or microenterprises
|Does not apply to citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
The role of social partners in designing the measure is unknown. The social partners have no legal role in implementing the measure.
No public positions have been expressed by social partners regarding the measure.
Eurofound (2021), Financial support for small and medium size companies - IMM invest , case RO-2017-52/1844 (measures in Romania), COVID-19 EU PolicyWatch, Dublin, http://eurofound.link/covid19eupolicywatch
Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process. All information is preliminary and subject to change.