Portugal Secures EIB Financing To Boost Affordable Housing

2025-09-19 03:07:44

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 19. Portugal and the European Investment Bank (EIB) have signed the first 450 million euros tranche of a landmark 1.34 billion euros framework loan to expand affordable public housing across the country, Trend reports.

The financing will support the construction and renovation of around 12,000 rental units, offered below market prices, as part of Portugal's National Affordable Housing Programme. The project prioritises energy efficiency and climate resilience, aligning with EU sustainability goals.

At the signing ceremony in Lisbon, Minister for Infrastructure and Housing Miguel Pinto Luz said the agreement provides“another tool for public housing in Portugal,” stressing the government's commitment to quickly delivering new homes. Finance Minister Joaquim Miranda Sarmento highlighted the EIB's long-standing role in Portugal's development, while EIB Vice President Ioannis Tsakiris underlined the importance of affordable housing for social inclusion, economic competitiveness, and climate action.

The project is also backed by Portugal's Recovery and Resilience Plan, with EU and EIB contributions covering about 90% of total costs.

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