23.04.2020

Practice Areas: Finance

COVID-19 Financial incentives to companies

Last Monday, 19 April 2020, two types of financial incentives entered into force to help companies cope with the COVID-19 pandemic; namely, Ordinance No. 95/2020 and Ordinance No. 96/2020.

Either as a stimulus for productive innovation or for R&D (Research and Development) activities, the aim is to benefit companies (SMEs and non-SMEs) by subsidising necessary or, tremendously convenient and useful, expenses or investment to put an end to the current crisis context. A timely and adequate oxygen balloon to fund domestic investment and/or research via the ESIF (European Structural and Investment Funds). 

One of the incentive schemes aims to support companies that wish to establish, strengthen or reverse their capacity to produce goods and services for fighting the pandemic, including the construction and upgrading of tests and trial facilities for COVID-19 relevant products; the other incentive scheme aims to support business and non-business entities in research and development activities connected to fighting COVID-19 and to testing and upscaling infrastructures for developing products relevant for the fight against the pandemic.   

Both schemes are subject to a tendering procedure, and the respective calls for tender have already been published. The deadline for the submission of applications is 29 May 2020, and circa 70 million of aid are waiting to be provided to the whole country in a differentiated way.

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