The government adopted on last Wednesday two measures to support farm producers affected by drought, providing for financial compensation and the legal suspension of the repayment of current and outstanding loans until August 2025.The decision comes as more than 230,000 farm producers (individuals, companies or family businesses) were hit by drought between September 2023 and August 2024, and provides for drought relief grants in the amount of RON 1,000 for each affected hectare, government spokesman Mihai Constantin said. The aid is disbursable based on a damage assessment minute acknowledging that the affected area is at least 30%. The budget of this state aid scheme is RON two billion.Another measure adopted by the government to support farmers who had difficulties this year provides for the possibility of legally suspending the repayment of current and overdue loans due in 2024, until August 1, 2025. The facility applies provided that two requirements are met: the applicant for suspension must have a record ascertaining an extent of damage of at least 50%; the interest charged by the lender is higher than 2.5% plus ROBOR for loans in RON, and 2% plus EURIBOR for foreign currency loans, Agriculture Minister Florin Barbu explained.Another emergency ordinance adopted on Wednesday aims to expand the "Farmer's Loan" state aid scheme, so that advantageous state-guaranteed loans can also be accessed for the payment of outstanding debts to suppliers and input distributors."We are talking here about 100% state-backed loans with a fixed interest rate of 1.95, and the ROBOR and all other fees are borne by the Ministry of Agriculture and the Government of Romania. (...) Let me tell you one more thing: Romania's self-sufficiency rate for domestic products is 100%. This year's wheat production exceeds by 1.9 million tons the 2023 crop. Practically, we have the necessary output for both animal husbandry and for export," the minister emphasized.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
