04/08/2020 (Agence Europe) – On Tuesday, 4 August, the European Commission approved, under EU State Aid rules, Portugal’s plan to set up a new national development bank — ‘Banco Português de Fomento’ (‘BPF’) — to promote the growth of the Portuguese economy. BPF will result from the merger between Instituição Financeira de Desenvolvimento and PME Investimentos. BPF will be owned by the Portuguese State with a share capital of €255 million, and BPF’s activities will...