Portugal’s government will provide a credit line of €600 million to support companies operated by Banco de Fomento, it announced on Thursday
We will launch “a credit line of €600 million, with mutual guarantee and term of eight years. With a capital grace period of 12 months for companies affected by energy increases disturbances,” the minister of the economy and maritime affairs, António Costa Silva, said at a press conference in Lisbon.
With implementation starting in the second fortnight of October, this line has a term of eight years and is aimed at companies affected by the price of energy, raw materials and supply chain disruptions.
The minister noted that this credit line, “is comprehensive,” as it includes all sectors, not only those that suffered from high energy costs, but with other effects associated with raw materials, and also covers trade, services and tourism.
The minister announced today a package of measures of over €1.4 billion to support companies facing increased energy costs.
As well as the credit line, support for gas-intensive industries, training support, measures to speed up energy efficiency and fiscal measures, amongst others, have also been extended.
