The European Investment Bank (EIB) Group, comprising the European Investment Bank (EIB) and the European Investment Fund (EIF), has reinforced its commitment to Portugal with €2.1 billion ($2.3 billion) in new financing in 2024, for fostering sustainable economic development. This investment has unlocked approximately €4.9 billion ($5.3 billion) in total funding, representing 1.7% of the country’s GDP.
A significant portion of the funding was allocated to projects focused on climate action, environmental protection, health, and transport infrastructure. Notably, over €1.1 billion was directed towards clean energy initiatives, marking a record-breaking contribution to Portugal’s green transition.
“Cooperation with the Portuguese authorities is excellent. We have invested more than €2 billion in Portugal in 2024 and launched key projects such as the Lisbon Oriental Hospital and the high-speed rail link between Lisbon and Porto. We remain a crucial investment partner for the country, benefiting both businesses and citizens,” said EIB Group President Nadia Calviño.
In 2024, the EIB Group provided a record €1.3 billion to support Portuguese projects focused on climate action and sustainability, accounting for 63% of its total investment in the country—well above its 50% target set for 2025.
Sustainable energy and natural resources financing surpassed €1.1 billion, nearly doubling last year’s investments. Among the major projects funded were:
- Loans to Portuguese utility EDP to expand wind and solar energy generation and modernise electricity distribution networks.
- Financing for Galp Energia to support the construction of an advanced biofuels plant and a renewable hydrogen unit in Sines.
- A loan to ANA to support low-carbon initiatives across nine Portuguese airports.
- Funding via BPI to support small and medium-sized enterprises (SMEs), mid-caps, and public sector entities investing in climate-related projects.
Beyond its green investments, the EIB allocated €1.5 billion to initiatives aimed at enhancing Portugal’s economic and social infrastructure.
One of the flagship projects was a €107 million loan for the construction of the Lisbon Oriental Hospital, replacing six ageing hospitals with a state-of-the-art medical facility, ensuring improved access to modern healthcare services.
The EIB also prioritised innovation, with the EIF investing €90 million into three venture capital funds to accelerate the growth of start-ups in deep-tech and cybersecurity sectors.
In 2025, the EIB Group will continue to prioritise investments in social infrastructure to address key societal needs. It will also finance the first phase of the high-speed railway line between Porto and Lisbon, reinforcing its commitment to sustainable transport and regional cohesion.
