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Portugal Launches €2.5B Aid After Deadly Storm Kristin

Portuguese Prime Minister Luis Montenegro has announced a comprehensive 2.5-billion-euro support package following the devastation caused by Storm Kristin. The measures include direct grants for uninsured homes, income support for families, and liquidity assistance for businesses. The government has also extended the nationwide state of calamity and introduced tax and loan payment moratoriums. The storm has resulted in at least eight fatalities, with severe damage reported in regions including Leiria, Coimbra, and Lisbon.

Key Points: Portugal's €2.5B Storm Kristin Relief Package Announced

  • €2.5 billion support package
  • Aid for families and businesses
  • State of calamity extended
  • Credit lines for recovery
2 min read

Portugal unveils 2.5-billion-euro support package for Storm Kristin victims

PM Luis Montenegro unveils a 2.5-billion-euro support package with grants, tax breaks, and loan moratoriums for Storm Kristin victims.

"Direct grants of up to 10,000 euros will be available for uninsured primary homes - Xinhua"

Lisbon, Feb 2

Portuguese Prime Minister Luis Montenegro has announced a 2.5 billion euros support package for families and businesses after Storm Kristin left at least eight dead and a trail of destruction across the country, extending a national state of calamity.

Following an extraordinary Council of Ministers meeting, the government on Sunday (local time) announced the package while also extending the nationwide state of calamity until February 8. The measures include reconstruction aid, income support for families, liquidity assistance for businesses, and both tax and credit moratoriums.

Direct grants of up to 10,000 euros will be available for uninsured primary homes and for agricultural and forestry activities. Families facing hardship or income loss can receive up to 537 euros per person, capped at 10,075 euros per household, reports Xinhua news agency.

Businesses in affected areas will benefit from six months of Social Security contribution exemptions and access to a simplified temporary layoff scheme for three months. A 90-day moratorium will apply to business and primary home loans, with the possibility of extension for up to 12 months.

As part of the package, two credit lines totalling 1.5 billion euros will be launched to support business liquidity and structural recovery. Additional public funds will be directed toward repairing transport infrastructure, public facilities and cultural heritage.

According to local media reports, Storm Kristin, which has battered the country since Wednesday, has caused at least eight related fatalities. The hardest-hit regions include Leiria, about 140 km north of Lisbon, Coimbra, roughly 195 km north of the capital, as well as the district of Santarem and Lisbon. (1 euro = 1.19 US dollars)

- IANS

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Reader Comments

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Priya S
My heart goes out to the families who lost loved ones. 🙏 It's good to see the government stepping up with income support and loan moratoriums. The focus on repairing cultural heritage is also important—it's not just about infrastructure, but preserving history.
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Arjun K
A very comprehensive response. The credit lines for business liquidity are crucial to prevent a cascading economic effect. Hope the implementation is as efficient as the announcement. Sometimes in India, the aid gets stuck in bureaucracy.
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Sarah B
This sets a good benchmark for disaster management. The per-person and per-household caps on family aid seem well-structured to prevent misuse. The six-month Social Security exemption for businesses is a smart move to keep people employed.
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Vikram M
While the package is impressive, I have a respectful criticism. The article mentions extending the state of calamity only until Feb 8. Given the scale of destruction, is one week enough for assessment and distribution? Recovery takes months.
K
Kavya N
The support for agricultural and forestry activities is key. So many Indian farmers suffer similar losses. It's a reminder that climate change is making these extreme weather events more common everywhere. Solidarity with Portugal.

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