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January 24, 2022

Emergency ordinance to assist SMEs by state guarantees, under consideration

Prime-minister Emil Boc stated, on Saturday, in Cluj-Napoca, during a debate on the modification of the Constitution, that the Government would analyze a bill for an emergency ordinance (OUG) to assist SMEs by state guarantees and a partial subvention of interest, which may be adopted by July 1. “This is a supplementary measure which has yet to be approved, to be coordinated with other measures to assist the companies which hire unemployed workers over 40, or three years shy of retirement, fresh graduates or disabled people,” Emil Boc stated. According to the premier, all these companies can benefit of financial support from the state for one to three years. The Ministry of Economy drafted a bill for an emergency ordinance stipulating that the state would offer guarantees of up to 80 pc for loans taken by small and medium-sized enterprises (SMEs) and subventions of up to 50 pc for interests on loans contracted by the said companies to help them overcome financial difficulties arising from the crisis. A guarantee program is thus set up, based on which the National Loan Guarantee Fund for SMEs will underwrite, on behalf of the state, loans which are to be contracted by SMEs.

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