OTP Bank Romania is one of the partner financial institutions selected within the program for implementing the hospitality aid scheme, announced by the Ministry of Economy, Entrepreneurship and Tourism (MEET).
Through the new partnership with MEET, OTP Bank continues to support the local economy and the development of HoReCa companies, respectively in the fields of tourism, public food service and event organization, whose activity was affected in the context of the COVID-19 pandemic, by allocating grants for this sector.
Through the non-reimbursable financing plan, based on GEO no. 224/2020, with subsequent amendments and completions, beneficiaries that meet the eligibility criteria will be able to obtain Government issued grants in the amount of maximum 20% of the calculation base, the latter being calculated as the difference of turnover, income, etc., obtained from the eligible activities related to 2019 and those related to 2020, up to a limit of 800,000 euros per beneficiary.
In addition, customers will benefit of zero commissions for receipts / payments in RON for inter / intrabank transactions, except for commissions with third parties (ex: Transfond; NBR), for the amounts in the grant accounts that will be opened.
The total budget for the state aid plan will be 500 million euros, the equivalent of 2.5 billion lei, and by implementing the measure it is estimated that state aid will be granted to 74,000 beneficiaries. If the applications exceed the allocated budget, the amounts that each beneficiary will receive will decrease proportionally, so that all eligible applicants will receive aid.
The aid scheme will be open until December 31, 2021, and the payment of the corresponding amounts will be made by June 30, 2022, within the budget appropriations, according to the Ministry.
The representatives of the beneficiaries that want to apply within this Program may access the link https://granturi.imm.gov.ro/auth/login, to find out the steps they must follow to register their application and to choose OTP Bank as a partner bank.
The complete list of eligible areas of activity (eligible CAENs - Classification of Activities in the National Economy) in which beneficiaries must operate in order to obtain this type of grant, as well as the eligibility criteria, are described in detail in GEO no. 224/2020, with subsequent amendments and completions.
About OTP Bank Romania
OTP Bank Romania, a subsidiary of OTP Group, is an integrated and self-financed provider of financial services. With an approach defined by responsibility, commitment and professionalism, OTP Bank Romania understands the needs of clients and the current context of the market and is a trusted partner in the provision of financial services. The bank ranks 9th in terms of assets in the ranking of banking players in Romania, as of December 2018.
OTP Group has more than 70 years of activity in the financial sector in Central and Eastern Europe, while the Romanian subsidiary has marked 16 years of presence in the local market. Promoting innovation, stable growth and integrated financial services, OTP Group has become a dominant player in the Central and Eastern European market and is considered an important banking group even on a European scale. The community of about 40 thousand employees serves nearly 19 million customers daily in 11 countries.
