The Executive has approved by Executive Decision, the norms for implementing the support program and eligibility criteria for beneficiaries of projects in priority fields for Romanian economy financed from EU structural instruments earmarked to Romania, the program becoming operational, Finance Minister Sebastian Vladescu stated at the end Government meeting.
"The legislative act adopted today sets the overall ceiling of guarantees that may be issued in 2010, which are in the amount of 300 million EUR," Minister Sebastian Vladescu has outlined.
Guaranteed financing under the program represents 80% of the loan, which may be in euro or lei. The financing drawing the period is 4 years at maximum.
The selection procedure of lending banks will be done in accordance with Ordinance 34/2006. The legislative act also establishes eligibility criteria the applicants must meet. They must have an eligible contract, to be financed from European funds.
The program will run through the Credit Guarantee Fund for Small and Medium Sized Enterprises. Each beneficiary of project will organize a financer selection procedure, after which the file will be sent to the Fund to be approved, and the bank will finance the project based on guarantee, Minister stated.
Two weeks ago, the Government approved via Emergency Ordinance, the support program for beneficiaries of projects in priority fields for Romanian economy financed from EU structural instruments earmarked to Romania, and on March 1, the Ordinance was published in the Official Gazette.
The beneficiaries of this support may be local authorities, accredited institutions of higher education or public research institutes for research and development infrastructure and regional operators of water services and sewerage, implementing projects funded under Axis No. 1 priority of the Sectoral Operational Program "Environment".