Investment Plan for Europe: €300 million for Portuguese SMEs

The European Investment Bank (EIB) has signed four €70 million loans with the Portuguese banks Millennium Banco Comercial Português, Banco BPI, Banco Santander Totta and Caixa Geral de Depósitos as part of the Investment Plan for Europe, in which the EIB is the European Commission’s strategic partner. The remaining €20 million loan will follow at a later stage. The project focuses on investing in start-ups and companies employing young, long-term unemployed and self-employed workers. Carlos Moedas, Commissioner for Research, Science and Innovation, said: “The Investment Plan is a proven resource for innovative and R&D intensive SMEs and start-ups, and is delivering beyond our expectations. That is why we have recently increased the amount of financing available to SMEs under the Investment Plan. With today’s announcement of €300 million for Portuguese start-ups and small businesses, we really see the Investment Plan making a difference to our citizens. I look forward to future Investment Plan news in Portugal”