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FinMin Citu: European Commission approves increase of SME Invest ceiling from 15 to 20 billion lei
Minister of Finance Florin Citu declared on Friday that the European Commission approved the increase of the ceiling for the SME Invest program for small and medium-sized businesses from 15 to 20 billion lei.
"The European Commission has approved the increase of the ceiling for SME Invest from 15 to 20 billion. The demand is still high," Citu said at the beginning of the government meeting.
Prime Minister Ludovic Orban mentioned that almost half of the banks have requested an increase in the ceiling and told the Minister of Finance that he could second experts from the Counter-Guarantee Fund or the National Agency for Fiscal Administration (ANAF) to speed up procedures.
"We had a discussion with the Guarantee Fund, they are also working on automating the procedure, which I think is much simpler and a long-term solution, but in the short term we will see how we can help with staff from other institutions," Citu said.