July 7, 2020 | News

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Government to launch new credit line

07/07/2020 - Government to launch new credit line worth one billion euros to support micro and small businesses

According to Jornal Económico, “The measure was announced by the minister of State, Economy and Digital Transition, Pedro Siza Vieira, and should be available within two weeks. The Government will also expand the microcredit line for companies in the tourism sector.”

The government official also said that this credit line will be distributed according to a key already in progress with the banking sector, learning “from the latest experiences”, so that support reaches “the largest number of companies as quickly as possible”.

The Government will also extend the microcredit line to companies in the tourism sector. According to the minister, the line aimed at micro-enterprises in the tourism sector will be extended “from 60 million to 100 million euros”, with “a component that may be lost if certain objectives are maintained in terms of job maintenance”. .

"In other words, for companies that have already benefited from this credit line, or those that still have access, 20% of the credit can be converted into a lost fund, depending on the fulfillment of certain objectives" such as maintaining jobs , explained Pedro Siza Vieira, in the Assembly of the Republic.

For the tourism sector, Pedro Siza Vieira also mentioned that measures are being considered to “ensure that the tourism sector is, this year, able to have health, health and safety practices that deserve consumer confidence”.

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