State aid scheme – Ukraine

Framework state aid scheme in the context of the economic crisis caused by Russia’s aggression against Ukraine

The large companies and SMEs with a turnover of minimum RON 20 million can apply for state guarantees and credits with subsidized interest within the new state aid scheme, conducted through Exim Banca Romaneasca, meant to assure the liquidity and access to financing of he companies confronted with difficulties in the context of Russia’s aggression against Ukraine.

  • Beneficiaries
  • Financing
  • Guarantees

Beneficiaries

The state aid scheme consists in:

  • The irrevocable and unconditional state guarantees, which cover up to maximum 90% of the investment credits and credits for working capital granted by commercial banks, as new exposures.
  • Credits for investments and credits for working capital, at subsidized interest rates.

Beneficiaries

The state aid scheme is addressed to SMEs with a turnover of over RON 20 million (according to the latest annual financial statement submitted to the Financial Administration) and to the large companies.

Eligibility (cumulative criteria)

  • The applicant is a business established/organized according to Law 31/1990, republished, with subsequent amendments and supplementations, or based on Law no. 15/1990 with subsequent amendments and supplementations;
  • The applicants are companies established for at least three years, with at least three annual financial statements concluded and submitted to the Financial Administration;
  • The applicant does not have decisions for the recovery of a state aid or the issued decisions were executed;
  • The applicant is not under foreclosure, insolvency, operating closure, dissolution, liquidation or special administration;
  • The applicant is not the subject of any request addressed to competent courts of law to open the procedure of arrangement with creditors or insolvency;
  • The applicant does not have unsettled fiscal/budgetary obligations, according to its tax registration certificate;
  • The applicant is not in litigation with the Exim Banca Romaneasca, Ministry of Finances, including the National Agency of Fiscal Administration (ANAF)*;
  • The applicant is not registered with CIP (Payment Incidents Register) with major incidents (cheques and promissory notes) during the last 12 calendar months before the file registration (criterion met if the Beneficiary declares on its own responsibility that the incidents occurred after 01.03.2022, consequent to the conflict in Ukraine, or accidentally);
  • The applicants showed a debt service type A or B as of 01.01.2021 according to CRC (in case the debt service is different from A or B, the criterion is regarded as met if the Beneficiary declared on its own responsibility that the payment delays occurred after 01.03.2022, consequent to the conflict in Ukraine).

Beneficiary’s leverage is of maximum 90% according to the latest financial statement submitted to the Financial Administration (for the credits/guarantees to the credits for working capital).

* The eligibility criterion related to litigations with MF/ANAF considers the litigations enrolled with the courts of law and regarding the entities against which the MF/ANAF initiated  in first instance a litigation of any nature, irrespective of the trial phase of the litigation on the date the financing/guarantee file was submitted.

Scheme tenor

The financings and guarantees are granted within the Scheme up to the limit date of the contractual documentation to be permanently updated on the website of Exim Banca Romaneasca, but not later than 31.12.2023.

For additional information, or to apply for the products offered within the State Aid Scheme, please contact us at the address suport.companii@eximbank.ro.

Framework of the state aid scheme in the context of economic crisis generated by Russia’s aggression against Ukraine

Scoring of the activity sector

Balance scoring of the trade balance

Financing

Beneficiaries

The state aid scheme is addressed to SMEs with a turnover of over RON 20 million (according to the latest annual financial statement submitted to the Financial Administration) and to the large companies.

The credits are granted in RON, for working capital (maximum tenor, including the period of grace – 4 years) or for investments (maximum tenor, including the period of grace – 6 years).

Maximum value of an investments credit or for working capital cannot exceed:

  1. a) 15% of the average annual turnover for the last three closed financial exercises;
  2. b) 50% of the beneficiary’s costs with energy, registered during the 12 months before the one in which the financing file is submitted; or
  3. c) the required liquidities estimated by the beneficiary for the next 12 months (in case of SMEs), respectively 6 months (in case of large companies) since the credit granting date, within the limit of the turnover registered by the beneficiary in 2021, but not more than RON 40 million.

The estimation can include costs related both to investments, and to the working capital, based on beneficiary’s affidavit regarding its liquidity needs.

This way of establishing the credit value is an exception and is accepted only for companies in the sectors directly or indirectly affected by the current crisis and which show:

  • disturbances of their supply chains or overdue receivables from Russia, Belarus or Ukraine, and/or
  • exposure to increased risks of cybernetic attacks, and/or
  • price increases of certain production factors or certain raw materials, determined by the current crisis.

The credits for working capital can be consistently accessed, for the whole tenor of the scheme, within the limit of the allocated budget to such facilities.

FILES SUBMISSION SESSION OF CREDITS FOR WORKING CAPITAL

15.12.2022-29.11.2023

The investment credits can be accessed only within some files submission sessions, which will be successively opened within the limit of the allocated budget to such facilities.

FILES SUBMISSION SESSION FOR INVESTMENT CREDITS

23.10.2023 – 29.11.2023

Available products:

For additional information, or to apply for the Program of governmental support for large companies, please contact us at the address suport.companii@eximbank.ro.

 

Guarantees

Beneficiaries

The state aid scheme is addressed to SMEs with a turnover of over RON 20 million (according to the latest annual financial statement submitted to the Financial Administration) and to the large companies.

The guarantee is irrevocable, unconditional, direct and specific and is granted up to maximum 90% exclusively for the new investment credits or working capital.

The tenor of the secured credits is of maximum 4 years for working capital, respectively of 6 years for investments.

The guarantee currency is that of the credit, without the conversion possibility after granting.

Maximum value of an investments credit or for working capital cannot exceed:

  1. a) 15% of the average annual turnover for the last three closed financial exercises;
  2. b) 50% of the beneficiary’s costs with energy, registered during the 12 months before the one in which the financing file is submitted; or
  1. c) the required liquidities estimated by the beneficiary for the next 12 months (in case of SMEs), respectively 6 months (in case of large companies) since the credit granting date, within the limit of the turnover registered by the beneficiary in 2021, but not more than RON 40 million.

The estimation can include costs related both to investments, and to the working capital, based on beneficiary’s affidavit regarding its liquidity needs.

This way of establishing the credit value is an exception and is accepted only for companies in the sectors directly or indirectly affected by the current crisis and which show:

  • disturbances of their supply chains or overdue receivables from Russia, Belarus or Ukraine, and/or
  • exposure to increased risks of cybernetic attacks, and/or
  • price increases of certain production factors or certain raw materials, determined by the current crisis.

The guarantees for working capital credits can be consistently accessed, for the whole tenor of the scheme, within the limit of the allocated budget to such facilities.

FILES SUBMISSION SESSION OF GUARANTEES RELATED TO CREDITS FOR WORKING CAPITAL

15.12.2022-29.11.2023

The guarantees for investment credits can be accessed only within some files submission sessions, which will be successively opened within the limit of the allocated budget to such facilities.

FILES SUBMISSION SESSION OF GUARANTEES RELATED TO CREDITS FOR INVESTMENTS

23.10.2023 – 29.11.2023

Available products:

Guarantees for new credits

For additional information, or to apply for the Program of governmental support of large companies, please use the address suport.companii@eximbank.ro.