CGD Launches €40 Million Emergency Aid Package for Wildfire Victims in Portugal

Caixa Geral de Depósitos (CGD) has announced the immediate implementation of a €40 million support package aimed at families and businesses affected by the August wildfires, particularly in the North and Central regions of Portugal.

This support package offers differentiated financing conditions and is available to individual clients, companies, small businesses, and sole proprietors with properties or activities in the primary sector, agribusiness, rural tourism, and industry located in the affected areas.

The goal of these measures is to quickly address urgent needs, such as animal feed, forest cleaning, equipment replacement, and restoring productive capacity, as well as supporting investments in reconstruction, prevention, and resilience enhancement.

Measures for Businesses and Small Enterprises

• Emergency credit line with waived fees, reduced spreads, and possible capital grace periods.
• Treasury support for advancing insurance indemnities, paying salaries, and replenishing equipment, stocks, and raw materials.
• Investment financing for animal feeding, land clearing, beekeeping, hive replacement, and acquisition of agricultural and forestry machinery, including prevention initiatives.

Measures for Individuals

• Extension of mortgage terms up to 10 years, with capital or capital and interest grace periods of up to six months.
• Switch to mixed-rate for existing loans.
• Special conditions for rebuilding or repairing damaged homes and infrastructure.
• Special conditions on personal loans for purchasing goods.

In a statement, the bank led by Paulo Macedo emphasized that these measures are designed to provide rapid and effective solutions to support recovery, complementing public aid already announced, and reflect CGD's responsibility in stabilizing communities and accelerating economic recovery in the affected regions.