Development Bank to be up and running by early November

Even more quickly than originally announced, Portugal’s Development Bank – designed to promote economic growth and manage the EU funds available to help power Portugal through the ravages caused by the pandemic – will be in operation by the beginning of November.

A notice in government newspaper Diário da República was published today regulating the bank which will be known as BPF (Banco Português do Fomento).

Discussing it last month, economy minister Pedro Siza Vieira said he hoped that among all its functions, BPF will serve to make-up for the ‘lack of financial solutions’ for very long-term projects, in the ecological, digital and innovation sectors (click here).