The Government is expecting the European Commission’s approval to grant state aid to the Cantacuzino Institute, by deleting all debts, announced Prime Minister Victor Ponta, adding however that a plan should be developed so that the Institute should not to accrue debts thereafter.
"We have the draft ordinance to grant state aid to the Research and Development Cantacuzino National Institute. So, first we will clear all debts and start at time T0. It is important to have a plan that afterwards it should not accumulate debts again and that it should be able to operate and to exercise its absolute role of strategic and national pride, ultimately, of national priority that Cantacuzino has got. The important thing is to get out of debts, "the prime minister said Wednesday at the beginning of the Government meeting, Mediafax reports.
He asked Education and Research Minister , Sorin Câmpeanu, whether the European Commission was notified regarding the granting of state aid and he answered that the draft emergency ordinance was in first reading.
"I know it's first reading, but I say, we are about to receive the approval from the European Commission so as to make clear that we can do this," Ponta replied.
Official sources said that the Government will grant individual aid relief to the Institute, according to the principle for the "last time", which will amount to approximately EUR 10 million in total.
According to the quoted sources, state aid will consist of a loan of 35 million and cancellation of tax obligations administered by ANAF except for those withhold at the source.
State aid will be granted for a period of 6 months, during which Cantacuzino Institute will be required to submit a restructuring plan.