The Portuguese government has set up two credit line totalling €5 million euros, to support producers affected by storm Leslie and summer heatwaves.

"These two lines of credit, in a total amount of €5 million, are intended to cover the cash requirements and income losses resulting from drops in production," of members of industry organisations, the Ministry of Agriculture, Forestry and Rural Development said in a statement.

According to the Government, one of the lines, worth €3 million, is intended to support agricultural cooperatives and producer organsations in the wine and fruit sectors across the country.

"With a value of €2 million, the beneficiaries of the second credit line are agricultural cooperatives and producer organisations with headquarters in the municipalities of the central region of the country, particularly hit by storm Leslie, regardless of their sector," the document said.

According to the ministry led by Capoulas Santos, a "guaranteed amount will be granted in the form of a repayable loan by credit institutions with a protocol signed with the Institute of Financing of Agriculture and Fisheries (IFAP) and entities of the Portuguese Mutual Guarantee System."

On 15 October the Government announced support of €15 million in grant assistance to restore production potential.

The measure covers infrastructure, facilities and agricultural equipment as well as losses in livestock and permanent crops such as olive groves and orchards.

Hurricane Leslie hit Portugal on the night of 14 October and made land as a tropical storm.

Source - http://theportugalnews.com