Measures to support the business environment

Romania has declared state of emergency on March 16th, 2020 for a period of 30 days in response to the evolution of the epidemiological situation determined by the spread of COVID-19. In this period, given the difficult economic context caused by the spread of COVID-19 virus, the National Agency for Fiscal Administration has prepared a series of measures to support the business environment, the most important being:

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First EIB loan tranche dedicated to female entrepreneurs

The European Investment Bank (EIB) is lending EUR 22.3m to Garanti Bank Romania to support businesses in Romania. EUR 5m of the loan amount is devoted to female entrepreneurs, matched by another EUR 5m from Garanti Bank.  This transaction is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or „Juncker Plan”.

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Crowdfunding

On 8th of March, the European Commission has unveiled an Action Plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech). As a first major deliverable, the Commission is also putting forward new rules that will help crowdfunding platforms to grow across the EU’s single market.

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