A sum of 200 million lei is allocated for supporting the small and medium-sized enterprises (SMEs). The money will be used to subsidize the interest rate paid by SMEs on bank or nonbank investment loans raised in national currency, for the period between August 1, 2022 and December 31, 20. This is provided in an order made by the Commission for Exceptional Situations, IPN reports.

The public institution Organization for Entrepreneurship Development was empowered to manage and distribute the money. According to the Commission, the measure is designed to alleviate the shocks caused by the rise in interest rates on loans taken out by SMEs.

“The regulations on the subsidization of interest rates are to be approved by a Government decision. To ensure the transfer of subsidies to the beneficiary SMEs, the Organization for Entrepreneurship Development will be able to use the technical possibilities of the MPay service,” stated the Executive.