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Ponta Delgada ,  December 20, 2013

Azorean Government invests 6.4 million Euros in support to lines of credit and promotion of exports

The Regional Government has decided to invest 6.4 million Euros in the support to the lines of credit for companies and the promotion of exports, through the signing of contract-programmes with the company Ilhas de Valor and the Society for the Business Development of the Azores (SDEA) for the year 2014.

The decision aims to reinforce the support to companies, through a mutual guarantee system. With this measure, the Government aims to extend the scope of this programme to a wider range of companies, sign contracts with banking institutions for the implementation of the lines of credit to support the access of small and medium-sized companies to funding as well as to promote the use of new financial tools.

The Line of Credit "Açores Investe II" (Azores Invest II) is currently in force. A total of 980 applications have been approved under this line of credit, corresponding to a global investment over 49.6 million Euros.
The Line of Credit "Açores Investe II" assures financial support up to 25 thousand for micro companies, 50 thousand Euros for small companies and 300 thousand Euros for medium and large companies. The repayment deadlines may go up to eight years with a grace period up to 24 months.

Since the previous legislative period, when support mechanisms for the treasury and liquidity of companies have been created, this measure has secured a total of 108.8 million Euros in new bank funding and 308.7 million Euros in bank refinancing, covering a total of 3,201 companies.

In the case of SDEA, this body has planned several actions to ensure the implementation of policies to stimulate business development, provide services to regional companies, attract foreign investment and disseminate the economic potentialities of Region. Furthermore, the actions to be developed by SDEA comprise the international marketing of regional products, mobilisation of entrepreneurial initiatives and the promotion of innovation and entrepreneurship.

In 2014, particular relevance will be given to the implementation of a new incentive policy for investment and operation of companies as well as for the promotion of qualified and creative entrepreneurship with the aim of better preparing regional companies to face the challenges of economic globalisation.

In order to expand the economic base of exports, the Regional Government will award priority status to the creation of an incentive scheme for the internationalisation of companies and the implementation of a plan designed to promote regional products; the latter will identify the needs of companies and create the conditions to foster their export initiatives.

Furthermore, the Government will also draw special attention to the initiatives intended to promote the integration of regional companies in digital economy.


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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