Portuguese gov t to invest 2 5 bln euros in ailing tourism sector - Xinhua xinhuanet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from xinhuanet.com Daily Mail and Mail on Sunday newspapers.
2020-12-16 16:05:21 GMT2020-12-17 00:05:21(Beijing Time) Xinhua English
LISBON, Dec. 16 (Xinhua) The Portuguese government said on Wednesday that it will invest 2.5 billion euros (3.05 billion U.S. dollars) in the country s tourism sector rattled by the COVID-19 pandemic. The aim is to preserve jobs and the productive capacity of companies.
The amounts will be paid later this year. The planned investment is part of the 22 billion euro fund the government will make available to reactivate the country s entire economy after the crisis caused by the pandemic.
Secretary of State for Tourism Rita Marques told Parliament that as of Dec. 15, we had about 7,600 applications, whose terms of acceptance are already signed, with payments made of 43 million euros.