The Vice-President of the Government revealed that the Employment Stabilisation Programme "already approved 40 applications and ensured the maintenance of 400 jobs," which will allow the Government to inject "1.6 million Euros into Azorean companies over the next two years."

"The result is not only a further evidence of the driving force that guides the Azorean business sector, so that it may successfully overcome its difficulties, but also a stimulus for the Azorean Government to continue its policies to support companies, workers and families," said Sérgio Ávila.
 
"This is the only region in the country where one can find a series of substantial and comprehensive measures intended to support business activity, maintain and create jobs, combat unemployment and ensure the stability of household budgets," said the government official, According to him, "this begins to show results that make us believe that we are on the right track."

For the Vice-President of the Government, "the membership of the business sector to support programmes, namely the Employment Stabilisation Programme, will boost the effectiveness of the fight against the rise of unemployment resulting from higher production costs and, simultaneously, prevent adverse effects on the labour market."

The Employment Stabilisation Programme takes the form of a repayable interest-free loan for a maximum period of six years. The amount corresponds to eight times the monthly minimum salary for each permanent job to be maintained, with a limit of 25 thousand Euros per micro-company and 100 thousand Euros per company up to 40 employees. This initiative is directed to the traditional trade sector, within towns and cities, restaurant and hotel sector and the automobile sector.

Applications to the Employment Stabilisation Programme can be made at the following electronic address: www.azores.gov.pt.