Florin Spataru, Minister of Economy: “We will offer incentives of 200,000 Euro to industrial companies that develop circular economy projects”

The Government approved a mechanism for granting financial support from the state budget by establishing the de minimis aid scheme for the transition to the circular economy, a project initiated by the Ministry of Economy.

The mechanism stipulates that the maximum amount granted to a beneficiary from the state budget for a period of up to 16 months is equal to 200,000 Euro, with installment payment, based on supporting documents, and the minimum amount being equal to 15,000 Euro. Accepted projects will be financed within the limits of funds approved for the Program, included in the annual budgets of the Ministry of Economy. The expenses will be borne in percentage of 85 percent from the state budget, the remaining 15 percent from the beneficiaries’ own sources.

“Sustainable development implies, among other things, the transition to a circular economy. This representing one of the objectives that our country assumed as a member state of the European Union. We need a national strategy, adapted to the realities of the Romanian economy, but also a way to stimulate the industry to go through this transition. That is why, in today’s Government meeting, we approved a financial support mechanism through the Circular Economy Transition Program for the manufacturing industry. We are talking about a financial support of between 15,000 and 200,000 Euro from the state, for companies that want to invest in projects that reduce the volume of waste and at the same time manage to create the raw material necessary for the creation of an integrated production chain,” said Florin Spataru, the minister of economy.

In the next period, the Ministry of Economy will launch the Applicant’s Guide, which will establish the way the financing program is carried out and the steps that companies must go through to access these funds.