Government creates instruments to finance urban renewal and energy efficiency
The Community funds will give 613 million euros but the government expects the coverage radius the funds that may be created may exceed 3 billion euros.
The Executive has created new financing mechanisms of urban regeneration and energy efficiency, based on EU funds the country is to receive by 2020, it was announced by several ministers at the press conference that follows after the meeting of the Cabinet.
The government approved “the management and monitoring model in the area of urban renewal and energy efficiency, financial instruments that will be coordinated with European Investment Bank funds and banking and will have the effect of reaching 3 billion available, “said Jorge Moreira da Silva, Minister of Environment, Spatial Planning and Energy, adding that a third of Portuguese buildings are in a position to degradation and that needs intervention.
The expectation of the Executive is that the use of EUR 613 million of Community funds (refundable) within the Portugal 2020 may represent a global investment 3,065 million. The multiplier effect involves the allocation from the European Investment Bank or by traditional banks, with which it will now be necessary to discuss, and the project promoters.
In the case of energy efficiency, the fund management will be the responsibility of the EIB, while in rehab in Trainer of Housing and Urban Rehabilitation (IHRU).
Financial instruments are of guardianship Moreira da Silva, Minister of Environment, Spatial Planning and Energy, but will have based on the EU funds, Deputy Minister of management responsibility Poiares Maduro.
Portugal 2020 is the agreement between Lisbon and Brussels that brings together the management of European structural funds and investment for the period between 2014 and 2020. “With the creation of this fund, we are taking another step in the implementation of all sheds the next round of European funds Portugal 2020, “said Poiares Maduro.
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