The European Investment Bank (EIB) and Sociedade para o Financiamento do Desenvolvimento (SOFID), the development finance institution owned by the Portuguese State (80%), signed in Lisbon a deal aimed at fostering investments in Portuguese-speaking countries.
The EU Bank will provide SOFID with up to EUR 12m in a credit line designed to benefit small and medium-sized enterprises in Africa and the Pacific, which are underserved by the financial sector in the countries concerned. Portuguese SMEs and their subsidiaries in the targeted ACP countries are also eligible.
On this agreement, EIB Vice-President Emma Navarro commented that “marks the deepening of cooperation between the EIB and SOFID. From the EIB’s perspective, partnering with SOFID means broadening and increasing our capacity to support the private sector in Africa and the Pacific, contributing to sustainable and inclusive economic growth and prosperity.”
EIB and SOFID collaboration is aimed at assisting private sector enterprises operating in the targeted countries by providing the long-term funding that is crucial for accelerating economic growth and generating productive jobs.
Original source: EIB
Published on 24 January 2019
