Coronavirus - Government measures in key jurisdictions - Flipbook - Page 63
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Portugal
Contributor: Garrigues
Loans and
financial
support
Pedro Lemos Carvalho | pedro.lemos.carvalho@garrigues.com | +351 218 913 264
Susana Pimenta Sousa | susana.pimenta.sousa@garrigues.com | +351 218 913 249
Specific credit lines available for treasury support: credit line of up to €400 million for
treasury support under the Capitalizar COVID-19 Programme preferentially for SMEs not
covered by the specific credit lines below.
Credit lines for treasury support of companies in the following specific economic sectors:
Has the
government put
in place any new
bank funding
schemes?
– €60 million (tourism sector – microenterprises),
– €600 million (restaurant business),
– €200 million (travel agencies, tourist entertainment and event organisation companies),
– €900 million (touristic developments and accommodation), and
– €4.5 billion (credit line applicable to all companies, irrespective of the economic
sector in which they are engaged, and covers, inter alia, textile industry, clothing
and footwear, trade and services, transport, real estate, construction, extractive and
manufacturing industries, mining and wood industry).
Specific Portugal 2020 incentives:
•
Manufacturing Innovation COVID-19 (Inovação Produtiva COVID-19) (€46 million) for
SMEs and large enterprises.
•
Research and Development for Companies – COVID-19 (I&D Empresas - COVID-19)
(€23 million) for companies and entities part of the National Investigation and
Innovation System (Sistema Nacional de I&I).
Incentive package:
•
Deferral of 12 months for repayment instalments due up to 30 September 2020
in respect of reimbursable subsidies granted under the incentive schemes of the
National Strategic Reference Framework (Quadro de Referência Estratégico Nacional)
or Portugal 2020 without interest charges or any other penalty.
•
Expenses incurred by beneficiaries of such incentive schemes with events or actions
cancelled or postponed as a result of the COVID-19 outbreak, eligible for reimbursement.
•
Negative impact of the COVID-19 outbreak causing failure to execute contractual
obligations under the Portugal 2020 incentive scheme, may be deemed as force majeure.
Export support measures: increase of credit insurance lines guaranteed (i) for the
metallurgical, metal-mechanical and mould sectors (increase from €100 million to €200
million); (ii) for work abroad and other supplies (from €100 million to €200 million; and (iii)
for short-term export credit insurance line (from € 250 million to € 300 million).
Moratorium on debts: moratorium on debts until 30 September 2020, which provides for
the prohibition of the revocation of contracted credit lines, the extension or suspension of
credits until the end of September this year.
For more information please visit here.
Government measures in key jurisdictions
63