EIB Group Strengthens Commitment to Portugal with Record €2.1 Billion Investment in 2024

A significant share of the EIB Group’s financial backing was directed towards projects promoting climate action and environmental sustainability, reaching a record €1.3 billion in 2024.

The European Investment Bank (EIB) Group, encompassing the European Investment Bank (EIB) and the European Investment Fund (EIF), reaffirmed its strong commitment to Portugal in 2024 by providing €2.1 billion in financing to drive the country’s sustainable economic development. This substantial funding catalyzed approximately €4.9 billion in total investments, equivalent to 1.7% of Portugal’s GDP, underscoring the EIB Group’s crucial role in supporting Portuguese businesses and citizens.

Record-Breaking Investments in Green Energy and Climate Action

A significant share of the EIB Group’s financial backing was directed towards projects promoting climate action and environmental sustainability, reaching a record €1.3 billion in 2024. This amount, which constitutes 63% of the Group’s total investment in Portugal, surpassed the 50% target set for 2025.

The EIB allocated over €1.1 billion to sustainable energy and natural resources, nearly doubling the previous year’s investment. Notable projects included:

• Two loans to Portuguese electricity supplier EDP to expand renewable energy production, specifically wind and solar power, and to modernize electricity distribution networks.
• Two loans to Galp Energia for the construction of an advanced biofuels plant and a renewable hydrogen unit in Sines.
• A loan agreement with ANA to support low-carbon initiatives across nine Portuguese airports.
• A partnership with BPI to finance small and medium-sized enterprises (SMEs), mid-caps, and public sector entities investing in climate-focused projects.

Enhancing Portugal’s Economic Cohesion, Innovation, and Social Infrastructure

Beyond green investments, the EIB Group committed €1.5 billion in 2024 to projects enhancing economic and social cohesion in Portugal.

• Healthcare Infrastructure: A €107 million loan was granted for the construction of the Lisbon Oriental Hospital, which will replace six outdated hospitals in central Lisbon. This project aims to improve healthcare access and optimize hospital bed distribution in the capital.
• Innovation and Startups: The EIF invested €90 million in three venture capital funds to accelerate the growth of Portuguese start-ups in the deep-tech and cybersecurity sectors.

Future Outlook: Expanding Social Infrastructure and Advancing High-Speed Rail

Looking ahead to 2025, the EIB Group remains committed to investing in Portugal’s social infrastructure and sustainable transport. Key upcoming initiatives include:

• Increased financial support for essential social infrastructure projects to meet the needs of the population.
• Funding for the first phase of the high-speed railway line between Porto and Lisbon, reinforcing Portugal’s commitment to sustainable transport and regional cohesion.

EIB Group President Nadia Calviño emphasized the institution's ongoing partnership with Portugal, stating, "Cooperation with the Portuguese authorities is excellent. We have invested more than €2 billion in Portugal in 2024, launching emblematic projects such as the Lisbon Oriental Hospital and the high-speed train between Lisbon and Porto. We will continue to be a key investment partner to support Portuguese businesses and citizens."

With a strong track record in Portugal, the EIB Group’s continued support ensures that the country remains on a sustainable path, fostering economic growth, climate resilience, and social development for the years ahead.