Economy Minister Manuel Caldeira Cabral presented today, in Albufeira, two lines of credit, with a combined value of 7,5 million euros to support the sectors of commerce and tourism, following the floods of 1 November last year .
The creation of these lines of credit had already been advanced by the deputies elected by the Algarve of the PS, at the beginning of February, when they said that its opening was «for days», but only now have been announced by the Ministry of Economy.
The first line of credit, for the revitalization of the commerce sector, has an amount of 3,5 million euros, and the second, for the revitalization of the tourism sector, has 4 million euros allocated, three of them channeled through Turismo de Portugal .
The minister explained that these subsidized lines of credit from Turismo de Portugal and IAPMEI serve “so that companies can rebuild and invest and so that Albufeira can now be, at Easter or at least in the summer, in conditions to receive people as he always receives».
The trade support credit line will finance works and replacement of equipment due to the damage caused by the floods. Each company may receive a maximum of 150 euros, with operations having a maximum term of ten years, with a maximum capital grace period of three.
The credit line to support the revitalization of the tourism sector, on the other hand, has a financing term of up to six months after its opening, and may be extended for another six months if the amount is not exhausted within the first period.
This support is intended for micro, small and medium-sized companies and individual entrepreneurs, who do not have debts to Turismo de Portugal and who have their situation regularized in Finance and Social Security.
However, Caldeira Cabral explained that companies that do not comply with this requirement can benefit from the credit line if they assume, in writing, that they will regularize the situation within six months.
The investments eligible for this credit line are similar – works and equipment replacement –, but the maximum amount per company is 250 thousand euros, of which 75% are provided by Turismo de Portugal and 25% by banks.
Manuel Caldeira Cabral, in a short statement without any questions, told journalists that “tourism is experiencing a good moment in Portugal. The indications we have are of enormous demand. We're going to have lots of tourists. We will have to work well and give the best of Portugal and that's what Albufeira knows how to do. And, therefore, we are here to support companies”.
Regarding the Emergency Fund for traders, there is still no news. Carlos Silva e Sousa, mayor of Albufeira, said that "the analysis is still being carried out" of requests for help from traders who did not have insurance, and who do not have the means to recover their spaces.
However, the mayor says he would like this support to be available "as soon as possible".
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