Luís Montenegro said the line, called “Portugal Energy Resilience,” will be operated by the Portuguese Development Bank. He announced this during a ceremony marking his two years as Prime Minister.

He explained the measure is meant to finance the treasury and working capital needs of companies hit hardest by rising energy costs. It targets companies with energy expenses over 20% of their production costs.

According to the Prime Minister, “the State will provide a public guarantee covering 70% for large companies and 80% for small and medium-sized enterprises.”

He said this will help companies face international instability and protect competitiveness, jobs, and the resilience of the national productive sector.