€80 million for Brexit hit businesses

By TPN/Lusa, in News, Economy, Business · 02-07-2021 01:00:00 · 0 Comments

Planning minister Nelson de Souza has said that Portugal will have access to a package of €80 million euros of European funds for companies and sectors affected by Brexit.

During a hearing, at the Committee on Economy, Innovation, Public Works and Housing, the government official announced “a new programme to support the necessary adjustment for some sectors and companies from the impacts arising from Brexit, an initiative launched during the Portuguese presidency [of the European Union ] with a global value at European level of €5 billion. Portugal will have the opportunity to access a package close to €80 million”, he said.

Nelson de Souza took stock of the development of several community programmes, focusing on the work carried out in the last six months, during the Portuguese presidency.

In addition to the large programmes approved, totalling €800 billion, the minister highlighted smaller envelopes, such as the “package obtained of more than €50 million in support from the European Union's solidarity fund being used in Portugal to reimburse municipalities for part of the expenses they had associated with Covid-19”.

Nelson de Souza also recalled the approval of the REACT programme, representing a total of €2 billion, 70 percent of which has already been allocated.

As for the structural funds, the Planning minister highlighted that Portugal was committed “to creating the conditions for them to move forward”.

The regulations of several funds have been published, including the Feder and the Cohesion Fund, as well as “a regulation for the coordination of these European funds”, he said.

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