Municipalities will have until 2030 to apply for the €1.34 billion credit line from the European Investment Bank (EIB), announced on Sunday by the Prime Minister, according to Expresso. The signing of the agreement was scheduled for Thursday, but was ultimately cancelled.
The mechanism is intended to finance affordable rental projects, which have a total cost of approximately €1.789 billion, complementing the Recovery and Resilience Plan (PRR). It should be noted that, in the latest reprogramming, the target for public housing was revised downwards from 6,800 to 3,500 homes by 2026.
Local authorities will thus be able to use this new credit line from the European Investment Bank (EIB) until 2030 to finance affordable rental projects. The instrument, budgeted at €1.789 billion, will enable the construction and renovation of around 12,000 homes. It is estimated that state-owned properties will be renovated, new properties built and even properties purchased from private owners.
The Banco Português de Fomento is expected to be a partner in financing all these operations, always with the aim of increasing the supply of affordable housing. According to the same source, there are around 74,000 homes eligible for state guarantees through the Banco de Fomento.