BAKU, Azerbaijan, March 6. The European Investment Bank (EIB) Group reaffirmed its strong commitment to Portugal in 2024, with new financing totaling 2.1 billion euros, unlocking 4.9 billion euros in investments - equivalent to 1.7% of the country’s GDP, Trend reports.
A significant portion of the funding went toward projects aimed at climate action, environmental protection, and sustainable infrastructure.
EIB Group President Nadia Calviño highlighted the successful partnership with Portuguese authorities, noting key projects such as the Lisbon Oriental Hospital and the Lisbon-Porto high-speed rail. The financing supported approximately 10,000 Portuguese companies and helped sustain nearly 230,000 jobs.
A notable achievement in 2024 was the 1.3 billion euros allocated to climate action, with 1.1 billion euros directed toward sustainable energy projects, including wind and solar energy. Key initiatives include loans to EDP for renewable energy expansion and Galp Energia for biofuels and renewable hydrogen production.
The EIB also invested 1.5 billion euros in projects to enhance Portugal’s economic and social cohesion, including the 107 million euro loan for the Lisbon Oriental Hospital and a 90 million euro investment to support Portuguese start-ups in the deep-tech and cybersecurity sectors.
Looking ahead, the EIB Group plans to continue supporting social infrastructure and finance the first phase of the high-speed railway line between Porto and Lisbon, further strengthening Portugal’s regional cohesion and sustainable transport.