The plan provides additional funding for companies operating in Romanian ports that need to expand their capacity to handle or store goods from Ukraine.
The European Commission has agreed to a state aid scheme proposed by Romania totaling 126 million euros for the development of ports in the face of growing trade flows from Ukraine. This was stated in the EC press release.
The plan provides additional funding for companies operating in Romanian ports and needs to expand the capacity to handle or store goods from Ukraine.
The scheme, with a budget of €126 million, will run until 31 December 2024. Funds will be provided in the form of grants of up to 10 million euros to logistics companies operating in Romania’s sea and Danube ports.
The scheme will reportedly be partially financed by EU solidarity funds and will contribute to the functioning of “Solidarity Pathways” between Ukraine and the European Union.
The €126 million scheme will allow Romania to ease bottlenecks caused by a sudden increase in goods arriving at ports along the Danube and Black Sea coasts, European Competition Commissioner Margrethe Vestager said. The aid will support port operators in handling and storing cargo in queues, thereby easing the blockade caused by Russia’s war against Ukraine. This will contribute to the EU’s Solidarity Lanes action plan without unduly distorting competition in the single market.
We remind you that the Black Sea port of Constanta in Romania recorded the highest grain exports in 2023 thanks to a sharp increase in supplies from Ukraine and infrastructure projects financed by the European Union.
Earlier it was reported that Romania will increase the transit of Ukrainian grain.
Source: korrespondent
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