Iris germanica.jpg

Câmaras apply for government loan

Several debt-ridden Algarve câmaras are to take advantage of a special financial support mechanism from the government that could see a total of €240 million being made available to pay debts that are more than 90 days overdue. Among the most financially troubled municipalities are Portimão, which is expected to request a credit of €100.6 million, Albufeira (€25 million) and Faro (€24 million). The deadline for applications to the Local Economy Support Programme (PAEL) ended yesterday (Thursday).