RRP blamed for development bank’s teething problems

The former minister of economy, Pedro Siza Vieira, has blamed teething problems at Portugal’s development bank, Banco Português de Fomento (BFP), on insufficient funds from Portugal’s Recovery and Resilience Programme (RRP).

Instead, he says that his successor, the current minister António Costa e Silva, “should find other forms of supporting companies” through the energy inflation crisis.

Pedro Siza Vieira admitted that it had been difficult to get the development bank off the ground. Earmarking and allocating RRP funds has proved extremely complicated.