Banco BPI and the European Investment Fund (FEI) today signed an agreement to mobilize €155 million in lines of credit to improve access to finance for Portuguese SMEs.
This initiative is supported by the InvestEU program and aims to raise funding from eligible companies in Portugal, for activities in three categories: cultural and creative sectors, innovation and digitalization, and sustainability.
The financing will focus on investments focused on the transition to a green and sustainable economy, and will support inclusive, green and environmentally friendly investments amounting to around €69 million in areas such as decarbonization, renewable energy, energy efficiency, low mobility costs or zero emissions, climate resilience and circular economy, utilization From low interest rates and additional requirements.
57 million euros will already be directed to support companies that invest in digitization and innovation, including research and development activities and the adoption of new technologies.
BPI pledged to make more debt instruments available to businessmen and public and private companies in the cultural and creative sector, particularly in areas such as audiovisual (including cinema, television, animation, video games and multimedia), festivals, music, literature and architecture, among others, which will make It is possible to mobilize up to about 29 million euros in lines of credit for these companies.
With this agreement and InvestEU financing during uncertain times, Portuguese companies will have access to the financing they need as they move towards a more innovative, digital and sustainable economy. At the same time, it will support businesses in the creative and cultural industries that play an important role in defining our identity at a local and European level,” says Roger Haveneth, Executive Vice President of the EIF.
In turn, Joao Pedro Oliveira y Costa, CEO of BPI, said that “this agreement strengthens the strategic partnership between BPI and FEI in mobilizing financial instruments to support small and medium enterprises. It is very important that BPI was chosen by FEI to implement InvestEU in Portugal.
Paolo Gentiloni, European Commissioner for the Economy, emphasized that this agreement “will help Portugal progress towards a greener, more digital and innovative economy. I am pleased that, through this agreement, we will be able to provide the necessary support that Portuguese companies need in these vital sectors to continue growth and create good jobs.” “.
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
