FinMin Citu: IMM Invest website to be live on Tuesday, as of 09:00hrs

The website of the IMM Invest platform for small and medium-sized enterprises (SMEs) will become operational on Tuesday morning, as of 09:00hrs, Public Finance Minister Florin Citu announced on his Facebook page on Monday.

He said that the entrepreneurs who want to request state-guaranteed loans can sign up on the website as of Tuesday morning.

"The IMM Invest has been rebuilt. (...) Tuesday, 28 April, 09:00hrs, IMM Invest is live and all those who want to benefit from credit lines for investments/working capital guaranteed by the state by up to 90 per cent and with 100 per cent subsidized interest can sign up to the programme. This programme doesn't function after 'the first-come, first-served principle'," Florin Citu conveyed.

The Finance Minister argued that there is the risk for the IMM Invest programme be blocked by the Social Democratic Party (PSD) in Parliament.

"There is a risk. PSD's actions and that of their acolytes in Parliament. They are already voting against the law clearing the ordinance by which IMM Invest was approved. Moreover, the PSD members want to stop this programme through a motion. Ciolacu and his Socialist clique are doing everything to stop this programme which supports the capital and the private economy. As they have done so far with all the good measures taken by this Government," Florin Citu.

The application of the IMM Invest Romania programme was initially launched on April 17, but it was blocked exactly at the time of opening after 397,000 accesses per minute were received from 132,000 connections.

The IMM Invest is designed to allow SMEs significantly affected by the coronavirus crisis to provide liquidity for their current business or for investment by accessing guaranteed funds