EU Bank allocates EUR 750 million focussing on Innovation and Research, Education, Business and Health

The bank of the European Union has provided a EUR 750 million loan aimed at supporting selected investments defined under the Portugal 2020 Partnership Agreement. The EIB and the Portuguese Government have officially launched the first EUR 250 million tranche of this EUR 750 million credit line, dedicated to financing municipal projects.

The funds will be managed by the Portuguese Agency for Development and Cohesion and will finance investments focused on innovation and research, education, business development, health, energy efficiency and renewable energy, improvement of water supplies, integrated urban renewal, broadband coverage and e-government.

Portuguese Minister of Finance, Mário Centeno said, “The launch of the first tranche of this EUR 750 million credit line will contribute to a significant boost of investment in the short and medium terms and support job creation and economic growth. This is a very tangible example of how European integration can promote smart, sustainable and inclusive growth.”

Priority will be given to small and medium-scale projects of less than EUR 50 million. The minimum loan amount provided under this EIB credit line will be EUR 10 000 and the municipalities will benefit from advantageous interest rates and from maturities of up to 20 years.

Each project will be required to go through economic and financial assessments, to comply with the criteria defined under the 2014-2020 programme and to target the following priorities: competitiveness and internationalisation, social inclusion and employment, human capital and efficiency in the use of resources. Eligible municipalities may be located throughout the entire Portuguese territory.

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