The European Commission on Friday announced having approved an up to EUR24 million Romanian scheme (RON 118.6 million) to support investments in sea and inland ports in the context of Russia's war against Ukraine.In a press statement released on Friday, the European Commission says that the scheme was approved under the State aid Temporary Crisis and Transition Framework, adopted by the European Commission on March 9, 2023 to support measures in sectors which are key to accelerate the green transition and reduce fuel dependencies. The new framework amends and prolongs in part the Temporary Crisis Framework, adopted on March 23, 2022 to enable the EU member states to support the economy in the context of the current geopolitical crisis, already amended on July 20, 2022 and on October 28, 2022.Romania notified to the European Commission under the Temporary Crisis and Transition Framework, an up to ?EUR 24 million (RON 118.6 million) scheme to support private port operators in the context of Russia's war against Ukraine.Under the scheme, the aid will consist of limited amounts of aid in the form of direct grants. The measure, partially funded through the cohesion funds, will support private port operators in order to enhance the functioning of the Ukraine-EU Solidarity Lanes.The aim of the measure is to overcome the shortcomings of the capacity of the ports' superstructure, among others for the procurement of equipment for short-distance transport of freight and the extension of storage capacities for temporary storage. It will also facilitate grains transport and transit via Romanian ports that need urgent support to handle the increased traffic flows of goods.The commission found that the Romanian scheme is in line with the conditions set out in the Temporary Crisis and Transition Framework. In particular, the aid will not exceed EUR 2 million per beneficiary, and it will be granted no later than December 31, 2023.It concluded that the Romanian scheme is necessary, appropriate and proportionate to remedy a serious disturbance in the economy of a Member State, in line with Article 107(3)(b) TFEU and the conditions set out in the Temporary Crisis and Transition Framework. On this basis, the Commission approved the aid measure under EU State aid rules.
Romania, which for years ranked last in the EU for packaging waste recycling, now stands at the forefront of Europe’s circular economy, proving that a country with initially fragile infrastructure can implement, in record time, one of the most effective collection and recycling systems in Europe. This rapid transformation is taking place in a European […]
Tucked inside Radisson Blu Hotel, Bucharest, Ginger Sushi Bar & Lounge marks the turn of the year with an intimate New Year’s Eve dining experience built around a multi-course tasting menu. From 19:00 onwards, guests are welcomed to a carefully paced evening that blends Japanese inspiration with premium ingredients, from scallops and Wagyu to Chilean […]
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
