01/15/2024 – 13:46
São Paulo, 15 – The European Commission approved aid of 126 million euros to support investments in Romanian ports, given the increase in trade flow after the start of the war between Russia and Ukraine. The measure will be financed in part by European Union cohesion funds and should contribute to the functioning of the EU-Ukraine Solidarity Routes, facilitating trade flows to and from Ukraine, the Commission said in a statement.
Romania notified the Commission that it planned to support companies active in certain ports in the country to invest in additional handling or storage facilities to process goods diverted from their normal trade routes due to the war and the collapse of Ukraine's direct sea export routes. The scheme will be valid until December 31, 2024.
In a note, the EU Commission stated that the aid is necessary, as no investor or institution would make the disbursements due to the uncertainties of war and the temporary nature of the trade flows created.
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