2017: an exceptional year for EIB Group’s activity in Portugal
- The EIB Group provided a total of EUR 1 906m to finance 25 operations in Portugal
- Investment Plan for Europe: Portugal among the leading EU countries in terms of approved financing and investment expected to be mobilised relative to GDP
European Investment Bank Group (EIB Group) activity in Portugal increased in 2017 to reach a total of EUR 1 906m in financing, contributing to economic growth and job creation in the country. In 2017, Portugal was ranked tenth in the list of Member States receiving the largest amount of financial support from the EU bank, financing that accounted for about 1% for Portuguese GDP. Portugal ranked sixth among the EU countries benefiting the most from EIB support as a percentage of GDP.
As in recent years, in 2017 the EIB Group’s top priority in Portugal was steered towards supporting small and medium-sized companies, amounting to 54% of the EIB Group’s activities in the country. Partnering up with the national banking system, the EIB Group’s financing of SMEs reached EUR 1 022m, benefiting 6 600 Portuguese companies employing 260 000 people. The EU bank’s financing activity on action against climate change rose and, as a result, financing for environmentally sustainable projects reached EUR 360m in Portugal. However, the financing of projects focused on innovation was the area that increased the most compared to the previous year: EUR 295m in financing targeted areas such as supporting the education and R&D projects of Portuguese companies. Finally, the EIB granted a total of EUR 228m for infrastructure projects, mainly dedicated to financing the rehabilitation of urban areas and the expansion of the natural gas distribution network.
While presenting EIB Group activity in Portugal for the last year in Lisbon today, EIB Vice-President Román Escolano stated: “2017 was once again a very positive year for the activity of the EU bank in Portugal. We are very pleased to continue supporting the competitiveness of thousands of small and medium-sized companies, whilst increasingly supporting projects that contribute to fostering innovation and action against climate change, tomorrow’s global objectives. This shows the clear recovery of the Portuguese economy, as well as the strong commitment of the EIB Group to supporting it. I’m proud that Portugal is at the forefront of the Investment Plan for Europe in terms of investment expected to be mobilised relative to GDP.”
Investment Plan for Europe in Portugal
From the Investment Plan for Europe’s launch in 2015 until 2017, the EIB Group approved financing for 28 projects in Portugal under this initiative amounting to around EUR 2 000m, which is expected to mobilise EUR 5 500m of additional investment. Last year, this financing accounted for 19% of the EIB Group´s activities in the country. In terms of GDP, Portugal is among the top beneficiaries, as it ranks fourth in terms of investment expected to be mobilised relative to GDP under the “Juncker Plan”.