Brussels, 22/11/2010 (Agence Europe) - The European Investment Bank (EIB) has just announced a €450 million loan to Portugal to help meet the objectives of the National Strategic Reference Framework for 2007-2013. This is the first tranche of a total approved loan of €1.5 billion, the largest loan the EIB has ever granted in Portugal, which is currently facing massive economic and budgetary problems.
The loan will be used to co-finance projects also supported by EU structural funds in the sectors of research and development, information and communication technologies, transport, water, solid waste, energy efficiency and renewable energy, urban regeneration, health, education and culture.
The EIB has also signed the first tranche of €62.5 million of a total €250 million loan to the Portuguese government, to support the Madeira regional government to re-establish lost and damaged infrastructure caused by the flooding of February 2010. (O.L./transl.rt)