• Nadia Calviño visited Portugal as part of a tour of the Member States begun since her appointment as President of the EIB.
  • President Calviño met with Minister of State and Finance Joaquim Miranda Sarmento, Minister of Economy Pedro Reis and Minister of Agriculture José Manuel Fernandes, and with Carlos Moedas, Mayor of Lisbon and Rui Moreira, Mayor of Porto.
  • The EIB has a strong presence in Portugal, with Group investment in the country in 2023 totalling €2.1 billion — an increase of more than 25% from the previous year.
  • Portugal is among the EIB Group's top beneficiaries in terms of gross domestic product, with financing last year representing around 1% of Portuguese GDP.

President of the European Investment Bank (EIB) Nadia Calviño was in Porto today, meeting Minister of State and Finance Joaquim Miranda Sarmento to discuss how the EIB Group can further support the country through strategic investments.

“The EIB is a close partner of Portugal’s, supporting strategic investments in key infrastructure, health, education and housing, as well as its vibrant business ecosystem. I am proud to see our work translated into projects that generate economic growth, jobs and progress for the benefit of the Portuguese people,” EIB President Calviño said.

The discussion revolved around the new strategic priorities of the EIB Group and the financing opportunities to advance the green and digital transitions in Portugal, foster cohesion, enhance the competitiveness of Portuguese small and medium businesses (SMEs) and support the development of key infrastructure for the country, such as affordable housing, education infrastructure and sustainable transport, among others.

EIB investments in Portugal range from supporting SMEs in fields as diverse as technology startups, education, hospitality or healthcare, to financing critical infrastructure projects like Lisbon’s flood prevention system, the new Hospital Oriental Lisboa, better maritime access for the Porto de Leixões or affordable housing in Loures. The EIB has also supported the transition to a more sustainable and secure energy model by financing wind energy projects like WindFloat Atlantic, photovoltaic plants and the country’s electricity network.

For Minister of State and Finance Joaquim Miranda Sarmento, “The EIB has been a key partner in developing and promoting investment in our country. My meeting with Nadia Calviño aimed precisely to deepen this relationship and strategic partnership, in order to boost investment in Portugal and speed up the implementation of European funds, in particular PT 2030 and our Recovery and Resilience Plan.”

President Calviño also exchanged views with Minister of Economy Pedro Reis yesterday, discussing Portugal’s economic priorities and alignment with the renewed strategic EIB priorities.

“We had a very constructive exchange with President Calviño. We were able to go into detail on Portugal’s sustainable economic growth programme for the coming years and reflect on potential joint opportunities with the EIB. Namely, the partnership with Banco Português de Fomento to accelerate the financing and capitalisation of investment projects in various sectors, both public and private, with a strong focus on innovation, mobility, digital and the energy transition,” remarked Minister of Economy Pedro Reis.

During her first visit to Portugal as EIB President, Calviño also met with the Mayor of Lisbon, Carlos Moedas. Lisbon municipality is a key partner for the EIB Group, and they have a long track record of collaborating to implement projects in response to some of the capital’s most critical needs, such as social housing and infrastructure to prevent flooding in the city.

For years, the EIB has been a key investment partner for projects with a real impact on the daily lives of people in Lisbon, like the flagship Vasco da Gama Bridge.

In Porto, President Calviño also met with Mayor Rui Moreira, discussing how the municipality’s priorities for urban development and climate strategies align with EIB priorities.

While in Porto, President Calviño had the opportunity to visit the Porto de Leixões for a first-hand look at the port’s improved maritime accessibility — a project that received €60 million in EIB financing last year.

The president will conclude her visit to Portugal this evening with a keynote speech delivered at 6:00 pm at the 70th anniversary of Porto University’s Faculty of Economics.

The EIB and Portugal

Portugal received €2.1 billion in new financial commitments from the EIB Group in 2023, over 25% more than the year before. About half of this financing went to small businesses and mid-caps.

Portugal is one of the EIB Group's top beneficiaries in terms of gross domestic product, with financing last year representing approximately 1% of Portuguese GDP.

EIB Group financing for SMEs and mid-caps amounted to over 1 billion, more than double that provided in 2022. More than 19 000 Portuguese companies received support from this financing.

In total, the EIB has committed over €56 billion in financing for projects since its operations in the country began in 1976.

On our website, you can read more about Portugal and the EIB and see a full recap of EIB Group activity in Portugal in 2023.

Background information  

European Investment Bank 

The ElB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investment that furthers EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Portugal of €2.1 billion in 2023, with around half going to SMEs and mid-caps. Overall, the EIB Group signed €88 billion in new financing in 2023.