European Investment Bank looks at financing to refurbish 50,000 homes in Portugal

The European Investment Bank (EIB), in addition to financing new affordable homes through a €1.3Bn loan, is now looking at a new €1Bn package to do up more than 50,000 homes.

In an interview with SIC, Nadia Calviño, president of the EIB, revealed that the European Union’s investment bank is now evaluating the financing of the rehabilitation of more than 50,000 homes.

This is a new package of 1Bn which is added to the previously announced funding of €1.3Bn for the construction of affordable housing.

“I am very pleased that we have signed this first agreement of €1.3Bn and we are also currently evaluating another agreement of €1Bn to renovate buildings for social housing (…). We will provide financing to the Portuguese Government, which will then provide it to the municipalities or companies that will build these houses. In addition to the new construction, we will also promote the renovation of buildings,” Nadia Calviño told the same media.

The EIB President stressed that this new funding is exclusively for Portugal, despite the housing crisis spreading throughout Europe. The former Deputy Prime Minister of Spain also said that the bank is available to support the expansion of the TGV and does not close the door to the future Lisbon airport.

On an official visit to the country, Nadia Calviño met with the Ministers of Finance and Economy, and also had a meeting scheduled with the Prime Minister in São Bento on Wednesday.

Source: Vida Imobilíaria

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