President of the European Investment Bank in Porto to reinforce common agenda for sustainable development

The mayor of Porto received the president of the European Investment Bank (EIB), Nádia Calviño, on Friday morning, in an opportunity to strengthen the common agenda for sustainable development. The reception at the Town Hall was attended by the Councillor for Economy, Employment and Entrepreneurship, Ricardo Valente.

Rui Moreira emphasises that 'Porto today has a great capacity to attract investment, also as a result of relations with entities such as the EIB which, like us, see sustainability and the fulfilment of the 2030 Agenda commitments as central to a consistent strategy for building interesting, comfortable cities where quality of life is a reality for those who live, study or work there'.

Considering this 'a very positive meeting', the EIB's president describes Porto as 'a vibrant city and a magnificent example of Portugal's success'. 'The EIB is an essential partner for Portugal in financing investments that positively affect the lives of the Portuguese, including infrastructure, schools, hospitals, housing, mobility and sustainability', she said.

Nádia Calviño's visit to Porto is part of an official tour of EU member states since her appointment to the presidency of the EIB, which has included meetings with government and municipal officials, as well as visits to projects supported by the bank that have an impact on the daily lives of the Portuguese.

Investment plan under study amounts to 468 million euros

The EIB and the Municipality of Porto have been studying ways of financing some of the projects included in the municipality's Investment Plan. At this meeting, Rui Moreira and Ricardo Valente presented some of the 160 projects that make up the plan, with an estimated total value of 468 million euros.

The areas covered range from urban regeneration to the construction and rehabilitation of social and affordable housing and schools, as well as other areas such as the circular economy, climate adaptation or energy transition and efficiency.

The EIB has been helping to analyse the projects in terms of how they fit into the rules and areas eligible for a possible long-term Financing Agreement (25 years).

2.1 million euros of investment in Portugal

The European Investment Bank is the European Union's long-term financing institution, whose capital is held by the‑member states. The EIB's projects foster competitiveness, stimulate innovation, promote sustainable development, strengthen social and territorial cohesion, and support a just and rapid transition to climate neutrality.

The European Investment Bank Group, made up of the European Investment Bank and the European Investment Fund, recorded a total funding in Portugal of 2.1 billion euros in 2023, 25% more than the previous year.

Approximately half of this investment went to support small and medium-sized enterprises and mid-cap companies, out of a total of more than 19,000 Portuguese companies benefiting from this line of action.

Portugal is one of the seven largest beneficiaries of the EIB Group in terms of Gross Domestic Product (GDP). Last year, financing accounted for approximately 1% of the national GDP.