PORTUGAL SPENDS LAVISHLY ON CLOTHING AND TEXTILE PRODUCERS DURING RECESSION
March 1st, 2009
BY KEITH NUTHALL
THE PORTUGUESE government has announced a major Euro 850 million plan to boost its struggling textile and clothing sector, with Euro 600 million being lavished on export credit insurance. Another Euro 180 million will help Portuguese textile and clothing companies secure access to bank loans, with smaller sums being spent, for example, on backing risk capital investment (Euro 20 million); and rationalisation through mergers and acquisitions (Euro 30 million). This programme - called the Development Plan to Support the Fashion Industry (PADIM) ...
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