Banco BPI and the European Investment Fund (FEI) today signed an agreement to mobilize €155 million in credit lines to improve access to finance for Portuguese SMEs.
This initiative is supported by the InvestEU program and aims to leverage funding from eligible companies in Portugal, for activities in three categories: cultural and creative sectors, innovation and digitization and sustainability.
The funding will focus on investments focused on the transition to a green and sustainable economy and will support inclusive, green and environmentally friendly investments of up to approximately €69 million in areas such as decarbonisation, renewables energy, energy efficiency, low mobility costs emissions or zero emissions, climate resilience and circular economy, benefiting from low interest rates and collateral requirements.
Already 57 million euros will be directed to support companies investing in digitization and innovation, including R&D activities and the adoption of new technologies.
BPI committed to making more securities available to entrepreneurs and public and private companies in the cultural and creative sector, specifically in sectors such as the audiovisual sector (including film, television, animation, video games and multimedia), festivals, music, literature, architecture, among others, which will allow the mobilization of up to approximately 29 million euros in credit lines for these businesses.
“With this agreement and InvestEU funding in times of turmoil, Portuguese companies will be able to access the funding they need as they move towards a more innovative, digital and sustainable economy. At the same time, we support companies in the creative and cultural sectors that play a very important role in defining our identity at the regional and European level,” said Roger Havenis, EIF Executive Vice President.
BPI Executive His Chairman João Pedro Oliveira e Costa said: BPI is very important that he was selected by the FEI to carry out InvestEU in Portugal. ”
Paolo Gentiloni, Economic Commissioner of the European Commission, also said that the deal “will help Portugal transition to a greener, digital and innovative economy. The deal will allow these important sectors to We are happy to provide the support Portuguese companies need to continue to grow and create quality jobs.”