Brussels – The European Commission has found that the prolongation of the Romanian short-term export-credit scheme was in line with EU state aid rules, and in particular with the 2012 Short-term export-credit Communication. The Commission concluded in particular that the kind of insurance cover provided by the scheme to exporters established in Romania is still unavailable in the private market. Indeed, private insurers are supplying exporters with various insurance products to cover the risk of non-payment by foreign buyers. However, there is a lack of insurance coverage for small and medium-sized companies (SMEs) with a small export turnover; and for single export transactions (i.e. on a transaction-by-transaction basis as compared to insuring the entire export portfolio of a company). This is because private insurers are less interested in this type of transactions. In this context, the Romanian scheme allows the State to cover risks of single export transactions and risks incurred by SMEs with a small export turnover. The scheme is authorised until 31 December 2020. The Commission first approved the scheme in August 2014.
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