The Ministry of Economy announces 200,000 Euro for circular economy projects

The Ministry of Economy has published the draft Government Decision on the approval of the Mechanism for granting financial support from the state budget through the Transition to the Circular Economy Program for the manufacturing industry.

The project aims at both the development of new industrial sectors and the revitalization of traditional industrial sectors by processing and using existing resources, waste that have a strong negative impact at national and international level, compared to the territories of our neighboring states.

“The circular economy must be a management objective for any company in Romania. The principles promoted by the circular economy generate a double effect, namely environmental protection and added value on the economic chain. To encourage such management plans at the company level, the Ministry of Economy has developed a Mechanism for providing financial support from the state budget through the Transition to the Circular Economy Program for the manufacturing industry. All those who submit investment projects that will include the circular economy component will benefit from financial support between 15,000 and 200,000 euros from the state,” said Florin Spataru, Minister of Economy.

The normative act establishes the categories of activities that can benefit from funding, as well as the eligibility criteria that must be met.

The activities concerned refer to: technology transfer for the consolidation of the circular economy; development of research-innovation activities, ecological design of products and services to promote the principles of the circular economy; the establishment and / or endowment and operation of repair and reconditioning centers for goods; development of waste recycling activities, etc.

Regarding the financing, the maximum amount granted to a beneficiary from the state budget for an interval of up to 16 months is equal to the RON equivalent of 200,000 euros, with staggered payment, based on supporting documents, and the minimum amount allocated from the state budget for a project is equal to the RON equivalent of 15,000 euros. The expenses will be borne in a percentage of 85% from the state budget, the remaining 15% from the beneficiaries’ own sources.

The Ministry of Economy is responsible for the entire development of the program, having the obligation that within 30 days after the publication in the Official Gazette of this normative act to elaborate the “Applicant’s Guide”.