We hope the mentioned good practice case will encourage other governments and policymakers to do the same in their respective countries. Exhibitions and trade shows are the fastest of fast-tracks to economic recovery once the coronavirus crisis has passed and will deliver the best return on investment now. We sincerely thank UFI, EEIA, and EMECA for providing valuable information.
CASE STUDY: ROMANIA
Romania was one of the most aiding countries when it came to the meetings and exhibitions industry. Their financial aid helped the industry persevere.
EMERGENCY HELP
Expenditure measures:
On 11 April 2020, a Romanian scheme to support small and medium-sized enterprises (SMEs) in the context of the coronavirus outbreak. Under the scheme, support will be granted in the form of direct grants, and State guarantees for investment and working capital loans. The support under the scheme will be accessible to SMEs facing difficulties as a result of the economic impact of the coronavirus outbreak. The aim of the scheme is to help businesses cover their immediate working capital or investment needs, thus ensuring the continuation of their activities.
RESTART HELP
Expenditure measures:
On 27 August 2020, a €935 million (RON 4.521 billion) Romanian scheme was launched for supporting companies affected by the coronavirus outbreak. The public support takes the form of direct grants for working capital and productive investments and is co-financed by the European Regional Development Fund. The measure is accessible to small and medium-sized enterprises (SMEs) active in specific sectors and certain large companies related to the eligible SMEs, which have been negatively impacted by the coronavirus outbreak. The aim of the scheme is to provide liquidity to these companies, thus enabling them to continue their activities, start investments and maintain employment.
On 24 November 2020, a €216 million Romanian scheme to support small and medium enterprises affected by the coronavirus outbreak was launched. Under the state aid Temporary Framework, the scheme, in the form of direct grants, was earmarked to help businesses cover liquidity shortages faced due to the coronavirus crisis, and to ensure that they have diversified financing channels.
Measures related to public guarantees:
On 2 July 2020, a RON 4 billion (approximately €800 million) Romanian scheme to support companies affected by the coronavirus outbreak was announced. Under the scheme, the public support will take the form of subsidised loans and State guarantees on loans. The measures are managed by the development bank arm of Export-Import Bank of Romania (“EximBank”), acting on behalf of the Romanian State and in full independence of the commercial activities of EximBank. The scheme is open to small and medium-sized enterprises (SMEs) with a turnover of above RON 20 million (approximately €4 million) in 2019 and to large companies. The measures aim at enhancing access to financing for these companies, thus enabling them to continue their activities during and after the coronavirus outbreak.
RECOVERY HELP
Measures related to public guarantees:
On 16 October, under EU State aid rules, a €103 million Romanian guarantee scheme was launched to support the trade credit insurance market in the context of the coronavirus outbreak. The scheme ensures that trade credit insurance continues to be available to all companies, avoiding the need for buyers of goods or services to pay in advance, therefore reducing their immediate liquidity needs.
To find out more about Romania’s aid scheme, click here.
