Companies affected by the December floods can now apply for support

In the Algarve, eligible companies will be able to receive a total of up to 800 thousand euros

Photos: Pedro Lemos | Sul Informação (file)

Starting tomorrow, March 15th, and until 17:59 pm on May 2nd, companies affected by the December floods of last year and January of this year can now apply for the “Support System for the Replenishment of Productive Capacities and Competitiveness”. 

In the Algarve, eligible companies will be able to receive a total of up to 800 thousand euros, including companies from the Municipality of Faro affected by the floods that occurred in December.

In a note, CCDR Algarve recalls that in Portugal there have been occasional adverse situations that affect particularly severely territories more vulnerable to natural risks.

In this sense, on a proposal from the Ministry of Cohesion and Territory, the Algarve region was included in Decree-Law no. of the Government that establishes the normative framework to support the re-establishment of the productive capacities and competitiveness of the companies affected, totally or partially, by adverse situations, namely fires, floods, landslides, tornadoes, earthquakes, hurricanes, among others.

Beneficiaries of support are companies that meet the access, eligibility and selection criteria, regardless of their nature and legal form.

In order to submit an application, it is essential that the beneficiary has registered and authenticated with the Funds Counter.

«Supports are awarded in the form of a non-refundable subsidy and relate to different expenses, namely relating to the acquisition, installation, transport or repair of machinery and equipment, the acquisition of computer equipment, including software, expenses with stocks and rolling stock for replacement of destroyed material and construction works, remodeling or adaptation of facilities, which are essential for restoring production capacity», says CCDR Algarve.

The estimate of the costs resulting from the damage incurred must be based on an assessment carried out by an independent expert or an insurance company.

The full notice for submission of applications can be consulted here