- The €300 million loan will help to modernise state-funded primary and secondary schools across the country.
- This investment covers projects to improve safety, accessibility and energy efficiency in school buildings.
The European Investment Bank (EIB) has signed a €300 million financing agreement with Portugal to co-finance the School Restoration and Rehabilitation Programme, which aims to modernise hundreds of state-funded schools across the country. The agreement was signed by the Portuguese Treasury and Public Debt Management Agency (IGCP).
This is one of the most significant operations for public investment in education in recent decades, and will contribute directly to the European priorities of social infrastructure, cohesion, climate action and sustainable development.
Thanks to these funds, at least 499 schools will be able to apply for assistance to undertake works to upgrade and expand their buildings, or to construct new schools, with a view to providing safer, more modern, more inclusive and more energy-efficient learning environments.
Modernising schools will help to significantly improve teaching and learning environments, while also helping to reduce greenhouse gas emissions by improving energy efficiency in school buildings.
The project contributes to the EIB’s objectives with regards to climate action, environmental sustainability, and economic and social cohesion. This programme will also receive additional support through national and European funding instruments.
Background information
The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, the EIB finances investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, high-impact investments outside the European Union and the capital markets union.
The EIB Group, which 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.
All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.
Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Around half of the EIB's financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.
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