The General Secretariat of the Government published on the internet page of the institution the draft of the Emergency Ordinance designed to regulate the approval of the grants aimed to help the companies in the tourism and public catering field, whose activity was affected by the COVID-19 pandemics.

You can find below an analysis of the main provisions in this Emergency Ordinance draft, subject to the fact that it still needs to be approved in a Government meeting and to be published in the Official Journal in order to produce effects.

Here are some of the positive aspects we have noticed after the first reading:

  • the values of the grants shall be proportionally influenced by the reductions of the turnovers of the applying companies;
  • it shall be possible for these grants to be cumulated with other aids received within other schemes (within a maximum limit of EUR 800,000 / company, total aggregate aids).

The aid shall consist of covering 20% of the reduction of the turnover or the stock turnover (for the travel agencies) for 2020 compared to the similar period of 2019. The maximum value of the aid granted to each applicant shall not exceed EUR 800,000.

The companies in the following economic sectors shall be eligible within this scheme:

  • licenced travel agencies, that have performed their activity under the following NACE codes: 7911 (travel agency activities), 7912 (tour operator activities), 7990 (other reservation services and related activities);
  • classified accommodation facilities, with activities under the following NACE codes: 5510 (hotels and similar accommodation), 5520 (holiday and short-stay accommodation), 5530 (camping grounds, recreational vehicle parks and trailer parks), 5590 (other accommodation);
  • public catering entities, under the following NACE codes: 5610 (restaurants), 5621 (event catering activities), 5629 (other food service activities, not classified in the previous NACE codes – in general, not only in the list above), 5630 (beverage serving activities). These entities must be fiscally registered on the Romanian territory; this condition is not specified for the above mentioned ones.

The total budget of this scheme is EUR 500 million. The exchange rate shall be the NBR exchange rate for the day when the financing agreement is issued.

The proposed deadline for the conclusion of the financing agreements is June 30th, 2021, and the amounts are to be granted within maximum 30 days after the conclusion of the financing agreements, but no later than December 31st, 2021.

The modality to spend the amounts granted within this measure is not known yet.

Here you can find more details concerning this scheme.

Note: This text is valid on the date it is published, it has an indicative purpose and represents an interpretation of the specialists of the company Cont Consulting, without intending to substitute the legal provisions in force. We are not liable for any possible damages caused by the use of this material for a legal purpose or as a proof in a potential litigation.
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