Government launches €3Bn credit line to help companies

  • Lusa
  • 18 March 2020

The Minister of Finance, Mário Centeno, and the Minister of Economy, Pedro Siza Vieira, present today the stimulus measures for the Portuguese economy in face of the impact of the new coronavirus.

Portugal’s government announced on Wednesday a series of credit lines to support companies’ treasuries worth a total of 3 billion euros, aimed at the sectors hardest hit by the Covid-19 pandemic.

At a joint press conference of the ministries of finance and economy, broadcast online, the minister of economy announced a set of credit lines, guaranteed by the state, to help companies in difficulty.

These credit lines have a grace period until the end of the year and can be amortised in four years, Pedro Siza Vieira said.

In Portugal, the Directorate General of Health (DGS) raised the number of confirmed cases of infection to 448 on Tuesday, 117 more than on Monday, the day on which the first death was recorded in the country.

The president of Portugal, Marcelo Rebelo de Sousa, called a Council of State meeting today, to discuss the possible decision to declare a state of emergency.

Portugal has been in a state of alert since Friday, and the government has put the civil protection and security forces and services on standby.

Among the measures to contain the pandemic, the government has suspended face-to-face teaching activities in all schools since Monday and imposed restrictions on commercial establishments and transport, among others.

The government has also announced the control of land borders with Spain, with nine crossing points and exclusively for the transport of goods and workers who have to travel for professional reasons.