Have measures been adopted for accelerating the process of diversifying the economy?

Yes; BNA Order 10/2020, of 1 April, establishes a set of measures designed for boosting the financing of projects of small and medium-sized companies (with more favourable terms and conditions), for 2020 year.

In addition, by means of Presidential Decree 98/20, of 9 April, a financial package consisting in different credit lines was cleared with a view to help micro, small and medium companies in the services-sector keeping operating.

 

Which are the key measures launched in this regard?

 

Is there any credit costs’ threshold?

Yes; the total cost of credit cannot exceed 7.5% per year (includes the nominal interest rate and fees and commissions). If covered by a State guarantee, the costs to be paid to the Credit Guarantee Fund (Fundo de Garantia de Crédito) are added to the total cost of credit.

 

 

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The information provided and the opinions expressed herein have been prepared with the help of VdA Legal Partners and are of a general nature. They are not in lieu of appropriate legal advice in connection with specific cases.