REI Finance Advisors tripled its business and team in 2020 aiming to reach over 100 specialists in 2021

REI Finance Advisors, a company specialized in consultancy services for attracting European funds and state aids, tripled its business and its team of consultants, after reaching 8 regional offices across the country in 2020. The evolution comes as a part of the development strategy at the national level, both in the context of the measures announced by the Romanian Government to support the companies affected by COVID-19, as well as the measures to relaunch the economy and especially of the investments of billions in key sectors of the economy for the next European financing program 2021-2027.

After Bucharest, the REI team has expanded its activity in the cities of Constanta, Bacau, Brasov, Craiova, Timisoara, Arad, Oradea, and Baia Mare, and plans to double its team in 2021 and to reach over 100 consultants, experts in attracting European funds, and state aids for companies active on the Romanian market.

The evolution of the team at a national level, as well as the measures announced by the Romanian Government to stimulate the businesses affected by COVID-19 have increased strongly, the business of the REI consultancy team being estimated to exceed the EUR 2 million threshold in 2020.

"We have started an ambitious plan to expand the local activity as a result of the growing number of customers, financing projects announced by the Romanian Government for working capital on GD 332/2014, for companies that create at least 100 new jobs, investments of at least EUR 1 million - GD 807/2014, and state aid to the companies affected during the pandemic period through GEO 130/2020, especially the 2021-2027 horizon, when billions of financing are planned and budgeted for EU member countries, including Romania. The opening of regional offices - in Brasov, Bacau, Craiova, Timisoara, Constanta, Baia Mare, Oradea, and Arad - is the first step in our approach to having the best possible coverage for the whole country. Depending on the progress of the projects and the size of the number of applications in the coming period, we are also looking at opening new sites in all key areas of the country", stated Roxana Mircea, partner at REI Finance Advisors and REI International Consulting, part of REI Grup.

At the beginning of March 2020, just before the start of the pandemic, the REI team had 15 consultants specialized in attracting European funds and state aids for companies active in Romania so that by the end of August the team would have about 30 specialists.

“We continue the recruitments and our target for 2021 is to reach a team of about 100 specialists, ready for the wave of financing requests that will come from companies affected by the COVID-19 crisis, the aid schemes of 2021 and the coming years, as well as the huge funding opportunities announced for EU member countries, including Romania, in the period 2021-2027. The year 2020 was an unexpectedly good one for the consultancy market specialized in attracting European funds and state aids, a big plus being the measures taken by the Romanian Government to stimulate the businesses affected by the pandemic, the projects financed by state aid (ex: GD 807/2014, GD 332/2014) as well as non-reimbursable European SME funds: Regional Operational Program 2.2, Digitization, Electric-up”, added Roxana Mircea.

With the results achieved in 2020, REI Finance Advisors exceeded the threshold of 400 projects through European funds successfully applied for on the Romanian market and over 250 already implemented, with a success rate of over 99% at local level.

Romania to get EUR 79,9 billion of EU non-reimbursable money in the financial period 2021-2027. "We will see a doubling of the consultancy market specialized in attracting european funds”

The leaders of European countries and EU institutions have approved a multi-annual budget for the 2021-2027 period of EUR 1.074 billion. Romania has obtained about 7,5% of the total, that is 79,9 billion euros, to be used as an economic recovery package, aimed at improving infrastructure in our country, building new hospitals and schools, modernizing public systems, as well as sums to be allocated for the development of the Romanian business environment in key areas.

Up to 9 operational programs will be able to absorb the maximum available budget of EUR 79,9 billion for Romania in the European funding exercise 2021-2027, including the Operational Program sustainable Development (PODD), Transport Operational Program(PPOT), Education and Employment Operational Program (POEO), Health Operational Program (POS), Operational Program of Social inclusion and dignity (POIDS), Smart Growth, Digitization and Financial Instruments Operational Program (POCIDIF), Fair Transition Operational Program (POTJ), Technical Assistance Operational Program (POAT) or Regional Operational programs, funded both with European money and from the local budget.

"Considering that Romania will receive an allocation of around EUR 80 billion over the 2021-2027 period, twice as much as 2014-2020 (EUR 39,8 billion), of which EUR 30 billion for Recovery and Resilience, EUR 20 billion for the Common Agricultural Policy and EUR 30 billion for Transport, Education, Inclusion or Digitization, we believe that it is appropriate to be prepared with competitive and specialized teams of consultants who will draft projects extremely well, to achieve the highest and rapid score, and then to implement the projects in an optimal way, respecting the deadlines imposed by the legislation and without exposing the beneficiaries of financial corrections. As a result of the doubling of the amount of European funds, we will surely see a significant increase in the consultancy market in Romania, probably a doubling of the turnover in this activity", stated Roxana Mircea.