Turismo de Portugal launches new line with endowment of 300 million euros

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Turismo de Portugal (TP) launched a new line of support for the qualification of the offer, with an allocation of 300 million euros, after this Monday a support for the treasury of 100 million euros was published.

In a statement, TP explained that the qualification support line “is intended to support the investment effort of tourism companies, particularly with regard to the requalification of the respective enterprises and establishments, in order to adapt and prepare the tourist offer , with a view to the sector's recovery process ”.

In the same note, the entity stated that this instrument “is aimed at all tourism companies”, and has “the focus on the development of sustainable and inclusive projects”, reinforcing “the aid intensity, through the increase of the component of lost fund that companies can access as a performance bonus ”.

The support line has a “partnership between Turismo de Portugal and 12 credit institutions (Abanca, Bankinter, BPI, BPG, CCAM, CGD, Eurobic, Millennium BCP, Montepio, Novo Banco, Novo Banco dos Açores and Santander), under the terms of which the financing to be granted is shared between the institute and one of those credit institutions ”, according to the same note.

With regard to the financing part of Turismo de Portugal, “up to 30% of it can be converted into a lost fund, depending on the size of the company”, he informed.

The entity also stated that “the data recorded until today by the lines that preceded it confirm its pertinence, opportunity and adequacy”, with the approval of 342 applications, an associated investment of 534 million euros and a financing of 280 million euros. euros.

The treasury support line for micro and small companies from Turismo de Portugal was reinforced by 100 million euros, according to an order published in Diário da República this Monday.

At issue are changes that "concern the budget increase to 100 million euros, the extension of the application of the conversion mechanism from 20% of non-repayable funding to all applications, as well as the introduction of the possibility of companies that do not are in effective activity to access the helpline as long as they are unable to exercise it due to administrative non-opening orders ".

In addition, the order establishes, "the possibility of access to this instrument of support for small businesses, which is also strongly affected by the economic effects of the current health crisis, is extended, making the adjustments that seem relevant for this purpose, namely as regards the maximum amount of support, since it is calculated according to the jobs, and the reference date for verifying the obligation to keep the job, since only now do these companies have access to this credit line ".

The Treasury Support line for Micro and Small Tourism Companies, managed by TP “and created as a mechanism to support the treasury of tourism companies in the context of the covid-19 pandemic, has already supported more than 7,300 companies, with an approved financing around 57 million euros ”, revealed the entity.

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