Government to up funding for tourism

The minister of State, Economy and Digital Transition, Pedro Siza Vieira has announced that the Government will continue to launch credit lines to support the tourism sector whose recovery is considered slow.

Opening the World Tourism Conference organised by the Portugal Tourism Confederation (CTP), Pedro Siza Vieira announced that a new line of €150 million would be launched in the coming weeks to bolster existing funds.
“Over the coming months we will need to continue to help companies in the tourism sector because although the recovery is taking place, it is still very slow”, said the minister at the event in Coimbra.
The Portuguese Government currently has a programme underway called Retomar (Kick-start) to support companies in the discussions that they are having with their banks in the sense of ensuring adjustments to their loans which were or are under moratoria and the repayment conditions they can expect.
The programme will be topped up with €150 million “both in Turismo de Portugal and in the bank system for SMEs.