The European Union supports the modernization of the Lisbon infrastructure

Lisbon became the first municipality of the European Union to benefit directly from the EU's support under the investment plan for Europe.

The municipality of Lisbon and the European Investment Bank (EIB) recently signed the agreement for the first loan payment (EUR 100 million) under the investment plan to contribute to the urban regeneration of the city and to support its Growth and its long-term competitiveness.

A project that focuses on two major points, social inclusion and the fight against climate change.

• Reducing social exclusion by promoting social housing is one of the main objectives of this project. The EIB loan signed today will contribute to the improvement of supply and the modernisation of social housing in the municipality by supporting projects such as the new energy solutions implemented in Bairro Padre Cruz.
• The EU Bank’s financial support will be also channelled towards the upgrading of the city drainage system and therefore it will contribute to strengthening Lisbon’s resilience to climate change and better prepare it against severe weather events, such as floods and storms.

In addition to those points this loan will finance urban infrastructure in selected areas of the city to improve the quality of public spaces, to renovate schools and cultural equipment and to complete the regeneration of the river front of the Portuguese capital.

An European support which should have a direct and positive impact on the lives of citizens living and working in Lisbon.

Source: eib.org