The line will be a “mutual guarantee” with a term of eight years and a 12-month capital grace period. It is for businesses “affected by disruptions, either in energy prices, or in the prices of raw materials, or supply chains and disruptions in supply chains,” the Economy Minister, António Costa e Silva, announced this Thursday at a press conference after the Council of Ministers.
“It is a comprehensive funding line for all sectors. Not only for the sectors involved with high energy costs but also for sectors with other supply chain and raw material effects”, António Costa e Silva continued, detailing that “it covers commerce and services”.
Also present at the press conference, the Secretary of State João Neves said this funding line “has no limitations”. “The only limits are of funding by company size. This is the only criterion that can limit funding,” he explained.
This line will be made operational by Banco de Fomento, and the government expects “it to be on the ground from the second fortnight of October.