EIB Group financing in Portugal reached €3 billion in 2025, with record investments in housing, climate action, transport and innovation

• The EIB Group reaffirmed its strong commitment to Portugal, investing €3 billion in 2025, a 43% increase compared to the previous year.
• A record amount of more than €1 billion was allocated to social infrastructure, with landmark operations supporting affordable housing and public schools.
• Support for the green transition reached historic highs, with €2.1 billion for climate action and environmental sustainability projects, almost 7 out of every 10 euros of total investment.
• Transport financing was around €1 billion, a record figure including the first tranche for the flagship Lisbon–Porto high-speed rail line.
• Innovation financing hit a new record, close to €500 million.
• Cohesion financing was €2.4 billion, representing almost 80% of EIB Group’s total investment in the country. 
• Portugal’s InvestEU Member State Compartment is expected to mobilise around €6.5 billion in financing for Portuguese SMEs and small mid-caps, with the EIF acting as implementing partner for the Portuguese Republic and Banco Portugues de Fomento playing a key role in the deployment.

The European Investment Bank Group (EIB Group), which comprises the European Investment Bank (EIB) and the European Investment Fund (EIF), boosted its investment in Portugal in 2025, reaching €3 billion, 43% increase vs. previous year. This figure is expected to unlock approximately €12 billion in investments, corresponding to almost 4% of the country’s GDP.

“2025 has been an extraordinary year for the EIB Group activity in Portugal. We have invested €3 billion with record financing to support housing, green projects, the high-speed rail line Lisbon-Porto and innovation. 40 years after Portugal joined the EU, and 50 years after the EIB Group started operations in the country, the Group continues to drive growth, competitiveness, and progress for the benefit of Portugal and its citizens”, said EIB Group president Nadia Calviño.

The results from the EIB Group’s activity in 2025 in Portugal show historic highs in support of the green transition with €2.1 billion, almost 7 out of every 10 euros of the Group’s total financing in the country. Projects financed included the decarbonisation of transport and industry, energy efficiency improvements in houses and schools, and investments in renewable energy generation and electricity grids. These operations further consolidate the EIB´s role as the Climate Bank in Portugal. Cohesion financing reached €2.4 billion, representing nearly 80% of the total investments and contributing to foster social, economic, and regional cohesion across the country.

Record financing for social infrastructure: more than €1bn for housing and public schools

Support for housing reached €750 million in 2025, a record for the EIB Group in Portugal. This financing will support the country´s National Affordable Housing Programme, including the construction and renovation of around 12 000 housing units.

Renovation of public schools accounted for €300 million, supporting the modernisation of educational infrastructure, improved learning conditions, and enhanced energy efficiency in approximately 500 school buildings.

A record financing for transport, around € 1bn including Lisbon–Porto high-speed rail line

Investment to promote the transition to more sustainable modes of transport accounted for almost €1 billion, a historic figure that includes the emblematic Lisbon–Porto high-speed rail line. The high-speed rail line represents a milestone for Portugal and is one of the largest country’s infrastructure investments in recent decades. The project is expected to improve sustainable mobility, reduce travel times and strengthen territorial cohesion. The EIB signed the initial tranche of the €3 billion loan approved in 2024 to support the first phase of this strategic infrastructure for Portugal and the EU.

Accelerating decarbonisation of industries and energy transition in Portugal

In 2025, the EIB continued to play a leading role in advancing Portugal’s green transition by supporting industrial decarbonisation, grids expansion and energy efficiency in retail stores and other buildings.

The EIB contributed to accelerate The Navigator Company decarbonization strategy by supporting investments in low-carbon production technologies across its facilities. In the retail sector, the EIB is helping MC modernise and boost the sustainability of approximately 400 stores through energy-efficient systems, renewable energy integration, and circular economy solutions, significantly reducing operational emissions.

The EIB continued to support electricity grids through operations like a €155 million loan to finance the expansion, development and digitalization of EDP´s power grids in Portugal.

Record support for innovation, nearly €500 million

The EIB Group is a major financier of innovation in Portugal and, in 2025, dedicated a record of nearly €500 million to drive innovation in the country, thanks to the combined activity of both the EIB and the EIF.

The EIF played a key role nurturing and growing the venture capital ecosystem to support entrepreneurs developing cutting‑edge solutions and technologies. Examples include investments in Indico VC Fund III for early‑stage companies in AI, deep‑tech, spacetech and oceantech, as well as investments in Vibe Capital and Crest to boost the growth of Portuguese SMEs. The fund managers selected by the EIF make extraordinary contributions to high-end innovation, backing Portuguese startups across deep-tech, biotech and climate technologies, amongst others. An example is the investment by the EIF‑backed Biovance fund in Mondego Bio in 2025, an innovative cancer‑treatment company in Portugal.

The EIB is also contributing to drive innovation and competitiveness in the country with direct loans to support investments in cleantech that accelerate decarbonization of the industry or the digital transformation of electricity grids.

Strengthening access to finance for Portuguese SMEs and mid-caps

Supporting SMEs and mid-caps remains one of the EIB Group’s priorities in Portugal. In 2025, the Group devoted over €500 million to enhance access to finance for these companies, reinforcing competitiveness, productivity, and regional development. More than 10 000 Portuguese businesses benefited from this support, helping to sustain around 245 000 jobs.

The EIB continued leveraging partnerships with commercial banks to channel financing to this core segment of the economy, and in 2025 signed, among other operations, agreements with Santander Totta, including a 75 million line for the agricultural sector with 10% dedicated to support young and newly established farmers, and with BPI, a risk-sharing guarantee to improve lending conditions for investment across key sectors. 

Additionally, the EIF strengthened its ongoing support for Portuguese SMEs and mid‑caps by working with commercial banks to channel financing and by further increasing its equity investments last year. EIF equity investments in 2025 were 40% higher than in 2024.

A landmark for SMEs support was the signature in 2025 of Portugal’s InvestEU Member State Compartment to mobilise around €6.5 billion in financing for Portuguese SMEs, mid-caps and individuals. This initiative is backed by the Portuguese Recovery and Resilience Plan financed with Next Generation funds and complemented by national public guarantees and EIF resources. It is being implemented by the EIF in partnership with Portuguese financial intermediaries, including Banco Portugues de Fomento, with an emphasis on key areas such as innovation, digitalization, sustainability, and competitiveness. 

Link video EIB Group activity in Portugal in 2025 PORTUGAL PT.mp4 - Google Drive

Link comments by President Nadia Calviño PRESIDENT_SOUNDBITE_PORTUGAL_CLEAN.mp4 - Google Drive

Background information

The EIB Group  

The European Investment Bank (ElB) Group is the long-term financing institution of the European Union, owned by its Member States. In 2025, the EIB Group signed €100 billion of new financing for over 870 high-impact projects in eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investment union.

Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.

In Portugal, the EIB Group has carried out financing and investment operations in 2025 totalling €3 billion, which came alongside an additional €30 million channeled through the Recovery and Resilience Facility (RFF).

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs.

In 2023, the EIF together with six Member States (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative, a fund of funds to scale up innovative startups. This initiative has already enabled the creation of 13 European venture capital mega funds and scaled up 38 companies, including 11 unicorns (with more than €1 billion in capital).

Photos of the EIB Group’s spokespeople and headquarters, logo files and video B-roll for media use are available here.