93,000 companies have benefited, so far, from financing through the IMM Invest program, starting on June 1, 2020, Dumitru Nancu, the general director of the National Credit Guarantee Fund for SMEs (FNGCIMM), declared during a conference on Tuesday."The amount that he (IMM Invest, ed. n.) infused into the economy amounts to 12 billion euros. I don't think that there has been such an infusion of capital in the economy, in the post-December period, and the degree default, i.e. non-performing loans, is sub-unitary. We are talking about over 90,000 loans. Some of them have reached maturity, those granted in 2020 on working capital, and at the moment the execution rate at the National Guarantee Fund is 0.56%. This execution is done from the venture capital fund," said Dumitru Nancu, at the Financial-Banking Market conference, organized by the Bursa newspaper.He expressed his hope that, until June 30, while the state aid scheme is valid, 100,000 beneficiaries will be reached."The risk fund collected 1.5 billion RON, from which non-performing loans worth 70 million RON were paid. It is a self-financing program and has a multiplication rate of 1 to 12. The last edition of the SME Invest program started in 30 April, with a budget of 8 billion RON. The request of the 18 financial institutions was 24 billion RON. The European Commission approved this state aid for only six member states, including Romania, for the companies that are affected by Russia's aggression against Ukraine. We hope to exhaust this ceiling of 8 billion RON by the end of May," said Dumitru Nancu.
The third edition of Taifas Balkan Film and Culture Festival, set to take place in Timișoara between October 13 and October 19, will include a retrospective dedicated to Romanian director Radu Jude. The public will be able to see the director's short films, in addition to a preview of his latest production, Dracula, presented at […]
Sursa International Light Art Festival, an event featuring immersive installations, projections, and light structures, will take place at the National Library of Romania from October 13 to October 19. The event brings together international and Romanian artists “in a visual dialogue about technology, architecture and sensitivity,” the organizers announced. “We wanted to build the opportunity […]
Romania’s Defense Ministry has signed a contract worth RON 50.4 million with Rheinnmetall Automecanica, a subsidiary of the German defense industry giant Rheinmetall, for the delivery of drone detection systems, Economedia.ro reported. The radar system will be delivered within 18 months at most and will reportedly be...
The former Steaua Roșie cinema in Cluj-Napoca will reopen as Edison-House of Music, a cultural hub dedicated to music and community, the organizers of the Jazz in the Park festival announced. Built in the early 1900s, the Edison building became, after World War II, the Steaua Roșie cinema. After 1989, the venue underwent several changes […]
Unprecedented amounts of precipitation have been recorded in Romania as cyclone Barbara hit the country on October 5-8, according to the authorities. At the same time, Bucharest exceeded the absolute maximum levels of rain for October. “Between October 5–8, 2025, Romania was affected by the Mediterranean cyclone Barbara, which formed over the Ionian Sea and […]
Romania is one of six European countries recently selected to develop a new artificial intelligence and supercomputing center under the EuroHPC – AI Factories program. The project, known as the AI Factory, will be Romania’s first national AI infrastructure, marking a major step toward strengthening its digital and research capabilities. The initiative will be led […]
