BEI lends an additional 300 million euros to Portugal to build affordable housing

Portugal is set to receive an additional €300 million from the European Investment Bank (EIB) for housing projects aimed at affordable housing and the renovation of degraded homes. This announcement was made by EIB President Nadia Calviño during a 50th-anniversary event in Lisbon. The funding will be channeled through the Urban Rehabilitation and Revitalization Financial Instrument 2030 (IFRRU 2030) and will support both public and private sectors. Over the past two years, the EIB has mobilized €3 billion for housing in Portugal. Additionally, a new €750 million package was announced to aid recovery from extreme weather events, combining public funding and loans to support small and medium enterprises. The EIB has invested over €70 billion in more than 1,000 projects in Portugal since its inception.