As of this Friday, 15th of May, the credit line, with subsidized interest, approved by the Government (Decree-law nº 15/2020) and addressed to entities in the fisheries and aquaculture sector, is available.
According to the Ministry of the Sea, the «objective is to provide financial means to meet the needs of working capital and treasury, namely for the settlement of salaries, taxes or debt payments with suppliers or financial institutions».
The total value is 20 million euros, to be granted by banking entities that sign a protocol with the Institute for Financing Agriculture and Fisheries (IFAP) and the operations must be contracted by December 31, 2020.
So far, they have signed up to the Protocol with IFAP, Caixa Económica Montepio Geral, Caixa Económica da Misericórdia in Angra do Heroísmo, Caixa Central de Crédito Agrícola Mútua, Caixa Geral de Depósitos, Banco Comercial Português, EuroBIC and Santander Totta. The Protocol can be extended to other banking entities that express their intention to join, with the IFAP.
«The new credit operations will have a maximum term of 6 years, with annual installments of the same amount. The interest rate fixed in the Protocol is equivalent to the 12-month Euribor, on 01/01/2020 (-0,248), plus a maximum spread of 4,5%», concludes the Ministry of the Sea.
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