Lower contribution of micro-enterprises to EU funded projects

The European Union will give companies 100% of the value of expenses that can be financed for projects, compared with 70% at the moment, the Romanian authorities, which manage the funds, have decided. The extension was decided because companies have trouble getting loans from banks or do not have any resources of their own to come up with their share of the project funding.
This decision will benefit the micro-enterprises employing up to nine people whose annual revenues do not exceed 100,000 euros. They can receive up to 200,000 euros in European financing to buy furniture or IT equipment.
So far, companies have been required to contribute 40% of the value of the eligible expenses (that can be financed by the EU) for the Bucharest area and 30% if they were micro-enterprises based in the rest of the country. Besides these eligible expenses, there are also non-eligible ones, which the beneficiary still has to pay.