Caixa Geral de Depósitos (CGD) has announced the provision of a financial support package of 40 million euros for clients affected by fires that devastated several regions of the country during August. The goal is to respond quickly to the most urgent needs of populations and local economic activity.
Who can benefit from support
According to the site specializing in economies and finance, Executive Digest, these measures cover private customers, companies, small businesses and entrepreneurs in the individual name with real estate or activity in the primary, agro -industrial, rural tourism and industry sectors in the affected areas.
The package seeks to respond immediately to situations such as equipment replacement, animal feed, land cleaning and productive capacity recovery, also allowing investments in reconstruction, prevention and reinforcement of resilience.
Credit and financing lines for companies
For companies and small businesses, emergency credit lines are available with commission exemption, spread reduction and the possibility of capital shortage. There is also support for the Treasury to anticipate insurance compensation, salary payment and replacement of stocks, raw materials and essential equipment.
Financing also covers investments related to animal feed, beekeeping, replacement of hives, acquisition of agricultural and forest machinery, as well as preventive actions against future fires.
Special conditions for individuals
In the case of individuals, CGD offers special conditions in housing credit, including extension of the deadline up to ten years and possibility of deficiency of capital or capital and interest up to six months.
Credits in force may be changed to mixed rate, and there are also specific solutions for reconstruction or repair of housing and infrastructures affected. Additionally, special conditions in personal credit are foreseen for the acquisition of essential goods.
Objectives and impact of measures
Paulo Macedo, president of the same bank, points out that these measures seek to provide quick and effective answers, complementing the public support already announced.
According to the bank’s statement, the initiative aims to stabilize the lives of populations and accelerate the economic recovery of the affected regions.
FOLLOW -UP AND FUTURE
According to the 40 million euros package will be available immediately, with direct monitoring to customers to ensure that the funds reach the areas they need the most.
CGD stresses that the goal is to mitigate the effects of fires, promoting not only immediate recovery, but also the future resilience of local communities.
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