In a joint initiative, the European Investment Bank (EIB) and Santander Portugal have signed an agreement today, Monday, aimed at bolstering the Portuguese economy by facilitating better access to financing for mid-cap companies. Amid high interest rates and limited liquidity conditions, this move is expected to generate up to €400 million in new loans.
The EIB will provide a 50% guarantee to Santander, enabling the bank to offer improved credit conditions. This agreement is anticipated to stimulate fresh investments worth up to €560 million in the Portuguese economy. The signing ceremony took place in Lisbon and was attended by EIB Vice-President Ricardo Mourinho Félix along with Executive Board Members of Santander Portugal Amílcar Lourenço and Isabel Guerreiro.
“In an economic landscape fraught with uncertainties — from supply chain disruptions to high inflation — the financial demands on businesses are increasingly pressing,” said Mourinho Félix. “This joint initiative aims to alleviate some of these challenges, thereby contributing to sustained economic growth and job stability across Portugal.”
Amílcar Lourenço emphasized the importance of these loans for promoting company growth nationwide: “At Santander, we have a permanent commitment to companies: to always look for better conditions to provide them with the resources they need to grow, be successful and make our economy prosper. This agreement with the EIB is further proof that we want to be by our companies’ side, promoting investment, job creation and wealth throughout the country.”
Banco Santander (BME:SAN) has been recognized as one of EIB's most active counterparts, participating in various financing operations, specialized credit lines, and risk-sharing initiatives for corporate portfolios and project finance in countries including Portugal, Spain, and Poland.
In 2022, the European Investment Bank Group (EIB Group), comprising the EIB and the European Investment Fund (EIF), reported excellent results in Portugal, signing €1.7 billion (EUR1 = USD1.0531) of new financing.
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