Portugal is to have a 100 million euro credit line to support the tourism sector during the current economic crisis.
The announcement from Portugal’s economy minister Teixeira dos Santos was made during a visit to Faro.
Teixeira dos Santos said that the new credit line “could become an important support in a sector that is suffering difficulties across Portugal, especially in the Algarve”.
He added that a new employment-training (Qualificação-Emprego) initiative, which he spoke about at a conference in the region, also aims to help to avoid the difficulties that businesses face in keeping staff employed after the high season.
“The programme is open to all businesses in the Algarve and will allow employees, at risk of losing their jobs or having their working hours reduced, to have training while remaining attached to the businesses and receiving the same salary,” he said.
Businesses that are economically viable and are temporarily over staffed can place up to 100 per cent of their employees in the programme and renew their candidacy during temporary periods of reduced work loads.
The Algarve tourism board (ERTA) is now working on creating a document and providing an office for business owners to gain more information about the programme.
