Banco BPI joins forces with European Investment Fund to offer sustainable loans to Portuguese SMEs

Banco BPI joins forces with European Investment Fund to offer sustainable loans to Portuguese SMEs

(IN BRIEF) Banco BPI and the European Investment Fund (EIF) have signed an agreement to provide up to €155 million in loans to Portuguese small and medium-sized enterprises (SMEs). The agreement, supported by the InvestEU programme, aims to improve access to finance for eligible companies in Portugal for activities in cultural and creative sectors, innovation and digitalisation, and sustainability. The agreement will provide debt finance to entrepreneurs, private, and public sector enterprises in the cultural and creative sector, financing for the transition to a green and sustainable economy, and financing for companies investing in digitalisation and innovation.

(PRESS RELEASE) LUXEMBOURG, 27-Mar-2023 — /EuropaWire/ —  The European Investment Fund (EIF), part of the European Investment Bank Group and established to support Europe’s micro, small and medium-sized enterprises (SMEs), announces a new partnership with Banco BPI to improve access to finance for small and medium-sized enterprises (SMEs) in Portugal. The agreement, signed under the InvestEU programme, will unlock up to €155 million in loans for eligible companies in three key areas: cultural and creative sectors, innovation and digitalisation, and sustainability.

The partnership with InvestEU aims to leverage financing for eligible Portuguese companies, with the goal of supporting investment in the transition to a green and sustainable economy. Under the agreement, BPI will provide financing of up to €69 million for eco-friendly, green, and inclusive investments in decarbonisation, renewable energy, energy efficiency, zero and low emission mobility, climate resilience, and circular economy. Eligible companies will benefit from reduced interest rates and collateral requirements.

In addition to the above, BPI will also provide financing of up to €57 million to support companies investing in digitalisation and innovation, such as R&D activities and the adoption of new technologies.

The partnership will also enable BPI to mobilise up to €29 million in loans for businesses in the cultural and creative sectors, including audio-visual, festivals, music, literature, architecture, archives, libraries and museums, artistic crafts, cultural heritage, design, performing arts, publishing, radio, and visual arts.

The partnership between BPI and EIF will help boost the growth of Portuguese SMEs and support their long-term sustainability. It also aligns with the EU’s broader objectives of promoting sustainable growth and economic development.

BPI and EIF have a long-standing partnership, with the EIF providing guarantees for several of BPI’s lending programmes in Portugal. This new agreement builds on that relationship and underscores the commitment of both institutions to supporting the Portuguese economy.

EIF Deputy Chief Executive Roger Havenith, said: “One of the EIF’s main priorities is ensuring the competitiveness of European SMEs that are driving the green and digital transition. With this agreement and InvestEU financing during turbulent times, Portuguese businesses will be able to access the financing they need as they move towards a more innovative, digital and sustainable economy. At the same time, it will offer support to businesses in the cultural and creative sectors which play such an important role in defining our identity at local and European level.”

BPI Chief Executive João Pedro Oliveira e Costa, said: “This agreement reinforces the strategic partnership between BPI and EIF in the use of financial instruments to support SMEs. It is very important that BPI has been selected by the EIF for the implementation of InvestEU in Portugal, a sign of trust and a confirmation of the fruitful work that we have been doing together for a long time. This agreement also affirms BPI’s commitment to Sustainability, the main goal we set out in our Strategic Plan, as well as, supporting companies in transitioning to a greener and digital economy.”

EIB Vice-President Ricardo Mourinho Félix, said: “This agreement with Banco BPI demonstrates the strong commitment of the EIB Group to Portuguese companies that are committed to innovation and digitalisation, as well as environmental sustainability. We are pleased that our joint support will foster conditions to improve energy efficiency and integrate renewable energy into a solution for secure energy supply and the decarbonisation of EU economies.”

European Commissioner for the Economy Paolo Gentiloni, said: “InvestEU is a key tool for supporting small and medium-sized businesses across Europe operating in the cultural and creative, digital and sustainable sectors. This InvestEU agreement will help accelerate Portugal’s progress towards a greener and more innovative and digital economy. I’m delighted that with this agreement, we will provide Portuguese businesses in these crucial sectors with the necessary support they need to continue to grow and create quality jobs.”

Background information:

The EIF is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment.

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investment contributing to EU policy goals, including a global just transition to climate neutrality. The EIB is active in around 120 countries and is the world’s largest multilateral lender for climate-related projects. In 2022, the EIB Group signed c. €1.7 billion in new financing in Portugal

The InvestEU programme supports sustainable investment, innovation and job creation in Europe. It helps fund the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof a multitude of EU financial instruments, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using an EU budget guarantee of €26.2 billion. The guarantee will back the investment projects of the implementing partners, increasing their risk-bearing capacity and thus mobilising at least €372 billion in additional investment.

BPI is a financial institution focused on providing retail banking services in Portugal, where it is the fourth largest bank in terms of business volumes, with market share above 11% in loans and in customer funds. BPI is part of the CaixaBank Group, which since the end of 2018 holds the entire share capital. BPI’s business is organised into several segments: Retail, Premier, Private Banking, SME, Corporate and Institutional Banking.  BPI offers a complete range of financial products and services, adapted to the specific needs of each sector, through a specialised, omnichannel and fully integrated distribution network.

The new financial instrument will soon be available to Portuguese companies.

Press contacts:

EIF: Maite Cordero | Phone number: +34 606 66 82 62 | Email:
David Yormesor,, tel.: +352 4379 89076, mobile: +352 621 554 578

European Commission:
Flora MATTHAES | Phone +32 229 83951 | Email

Rui Silva | | +351 912 454 299

SOURCE: European Investment Fund


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