Last Wednesday, Finance Minister Mário Centeno and Minister of Economy Pedro Siza Vieira announced a set of measures to support businesses in the sectors most affected by the Covid-19 pandemic.
At issue is a 3-billion-euro credit line. The tourism sector, one of the most affected, will have 1 700 million euros of support distributed as follows:
According to the statements, the credit lines may be used "from the next few days" and will have a "grace period until the end of the year". The loans are expected to be amortized over 4 years.
In addition, the Executive will also allow organisations to have more time to pay their debts to the banks. According to the Finance Minister, a moratorium on capital and interest for businesses is under discussion. An issue that is being worked on between Banco de Portugal and the banking system, namely with Associação Portuguesa de Bancos (APB), and which is being closely monitored by the Government.