Brussels, 03/12/2008 (Agence Europe) - The European Investment Bank (EIB) and Portugal last month signed a framework agreement on coordinating finance for key infrastructure projects in Portugal up to 2018. “Given the magnitude, complexity and importance of the forthcoming projects it would be very useful to have a planning tool establishing indicative amounts, timing and sectors of target projects for the coming years”, EIB President Philippe Maystadt said on this occasion.
The framework agreement is not binding. It is rather intended to provide a consistent framework for the development of EIB operations in Portugal in future years. The granting of loans will therefore be subject to a positive outcome of the Bank's customary technical, environmental, economic and financial appraisal of each project, and to the specific approval by the Bank's management and governing bodies of individual projects.
The programme covered by this framework agreement caters for investments over a period of 10 years whose aggregate cost is currently estimated at €40 billion. It has a particular focus on the following sectors and projects, although this list is not exhaustive: 1) Transport: high-speed rail network; new Lisbon international airport; road infrastructure; 2) Energy: renewable energies (water, wind and solar power); development of the electricity supply network and improvement of energy efficiency; 3) Water: management and planning of water use and supply; 4) Waste: waste disposal and treatment; 5) Urban centres: regeneration and rehabilitation of urban centres.
The EIB could finance up to one third of those investments or, over 10 years, provide finance for a total amount of some €13-14 billion. (O.L./transl.jl)