The diploma, published in the Diário of the Republic, recalls that in March 2020 “the Line of Support to the Treasury of Micro-enterprises in Tourism - Covid-19 was created, aimed at minimising the economic impact of the Covid-19 disease pandemic on companies in the sector”.

This line was “subject to adjustments and reinforcement, as a result of the evolution of the epidemiological situation and its effects on the economy and on the business fabric of tourism”, having allowed “to ensure the maintenance of public support”.

Thus, “given that the demand for this support remains constant, the fact that a commitment rate of 99 percent has already been reached, with 14,219 approved operations and committed funding of €138.5 million, together with the strong exposure of micro and small tourism companies to the current epidemiological situation experienced in the country, justify ensuring a new reinforcement of €10 million to the line”, reads the diploma.

The objective of the budget reinforcement, which is carried out in the context of the reopening of economic activity, is to give continuity to public financial support for micro and small companies in the sector, “still essential in the current phase”, according to the executive.

The support line is the result of 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), which share the funding to be granted.