Covid-19: PM announces credit line of four billion escudos to increase companies’ liquidity

Praia, Mar 25 (Inforpress) – The Prime Minister, Ulisses Correia e Silva, announced the creation of credit lines with bank guarantees from the State, in the total amount of  4 billion escudos, aimed to increase companies’ liquidity during the crisis.

Ulisses Correia e Silva spoke at the end of the Social Conciliation Council (CCS) meeting during which a tripartite agreement was adopted with fiscal, financial and social security measures to mitigate the effects of the Covid-19 pandemic, protect the employment and business and keep the economy running.

“Credit lines to increase companies’ liquidity are provided by commercial banks, in the total amount of 4 billion escudos with bank guarantees from the State, which may reach 100 percent (%)”, he said.

“As a result, we created the conditions for, in case of need support treasury needs, need to continue to companies function, to have resources available with zero or little credit risk for companies to continue their activities”, he said.

MJB/CP/HVF

Inforpress

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