Calls for credit line to help seafront businesses

An association representing hoteliers and restaurateurs in Portugal is calling on the government to create a credit line to help seafront businesses affected by the recent storms rebuild their establishments.
Preliminary evaluation of the storm damages, which amount to a €300 million bill, has concluded that the huge waves that battered Portugal’s coastline on January 6 led to the “complete destruction” of several businesses.
AHRESP says it is “very worried” about the future of hundreds of businesses, which have no insurance cover and may not be able to reopen at all. Thus, the association believes a financing mechanism needs to be created by the government as soon as possible.
“Businesses in seaside locations in particular, which also suffer the effects of seasonality, are left with no financial aid to repair their establishments, placing at risk their future reopening. Beach concessions, for example, are vital for tourism and to support bathers – they not only include restaurants and bars but some also have a first-aid unit and public toilet facilities.