- The operation aims to back up to €190 million in new credit to be provided to Portuguese mid-caps, namely ones operating in less developed regions.
- The new financing portfolio will benefit from a €100 million EIB guarantee for Banco BPI, covering 75% of the credit risk mainly for energy efficiency and renewable energy projects and 50% for the remaining portfolio.
The European Investment Bank (EIB) and Banco BPI have signed an agreement to create a new credit portfolio of up to €190 million in financing for mid-caps in Portugal, with better credit conditions. This funding will be used for productive investments in strategic sectors. The new loans are also expected to benefit companies operating in priority cohesion regions of Portugal, directly contributing to promote regional development and economic convergence in Portugal.
For this risk-sharing instrument, the EIB has approved a €100 million guarantee operation for Banco BPI, covering 75% of the credit risk for financing mainly dedicated to energy efficiency and renewable energy projects, in line with the European Union’s sustainability and energy transition objectives. The remaining part of the portfolio will benefit from a 50% guarantee rate from the EIB.
“Mid-caps are fundamental to the Portuguese economy. This operation will enable to provide loans under better financing conditions for investments to bolster productivity, innovation and environmental sustainability,” said Gemma Feliciani, Head of the Financial Institutions Department at the EIB.
“This initiative demonstrates our ongoing shared commitment to supporting mid-cap companies by providing them with the resources they need to grow and improving credit conditions. Additionally, we are fostering new investments, innovation and the green transition. Finally, the loans are expected to benefit companies operating in less developed regions of Portugal, emphasizing our strategic focus on enhancing the competitiveness of the business sector and promoting regional convergence,” stated Ana Rosas Oliveira, Executive Board Member at BPI.
This operation comes under “Growth for Midcaps” guarantee, an EIB financial instrument that aims to share credit risk with European banks to facilitate access to finance for businesses. This is the fifth project since 2023 under the instrument to have been approved in Portugal, demonstrating the EIB’s commitment to supporting the real economy and contributing to a green and just transition across the country.
Background information
About the EIB
The European Investment Bank (EIB) is the European Union’s long-term financing institution, owned by its Member States. Based on eight key priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and environmental sustainability, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.
The EIB Group, which also includes the European Investment Fund (EIF), signed almost €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.
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About BPI
BPI, part of the CaixaBank Group, is the fourth-largest financial institution in terms of business volume in Portugal. The bank's business model is built on a specialized, omnichannel, and fully integrated distribution network, offering a comprehensive range of financial products and services tailored to meet the unique needs of each client segment. Under its Sustainable Banking Plan 25/27, BPI aims to facilitate €4.4 billion in sustainable financing over the next three years. The bank is committed to supporting environmentally friendly initiatives and projects that address climate change and facilitate the transition to a low-carbon economy. The group stands out for its implementation of responsible investment principles and its commitment to sustainable investment as strategies for managing global risks and generating long-term sustainable returns.