EIB and IFD launch Portugal health investment programme

The EIB and Instituicao Financeira de Desenvolvimento (IFD) are jointly financing a €400 million investment programme aimed at upgrading infrastructure for long-term and elderly care across Portugal. The EIB will provide the IFD with a €200 million loan to be on-lent to financial institutions in Portugal, which will allocate funds to entities promoting the construction, refurbishment and upgrade of the infrastructure. The financial intermediaries will be selected through a call to tender process carried out by the IFD and will be required to match the amount lent by the EIB, thus making a total of up to €400 million.

The agreement will focus primarily on small and medium investment projects, with a cost of less than €50 million each, with the final beneficiaries being entities in the social sector that already provide long-term and elderly care services. These beneficiaries will be selected in consultation with local authorities and key stakeholders based on the services required, with the IFD setting up a two-stage validation system to ensure that the proposed projects are eligible.