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Recently established BPF, the bank created to finance Portugal’s future, belongs to the ALIDE community

  • ALIDE-BPF cooperation aims to strengthen Ibero-American integration.  

March 01.- Banco Portugués de Fomento (BPF), a bank created to “finance the future” of Portugal, on assuming the membership in ALIDE of SPGM – Sociedade de Investimento, whose merger with other institutions gave birth to the new BPF, now belongs to ALIDE’s community of development financing institutions.

BPF opened its doors on November 3, 2020 thanks to the merger, by incorporation, of PME Investimentos – Sociedade de Investimento and Instituição Financeira de Desenvolvimento (IFD) in SPGM – Sociedade de Investimento. Beatriz Freitas chairs BPF’s Board of Directors.

Origin

The XXII Constitutional Government Program proposed the establishment of a new financial institution tasked with giving the country’s entrepreneurial ecosystem a financial capacity and accelerating the various existing funding sources for investment in sustainable carbon-neutral and circular economy projects, in line with European orientations.
As early as June of 2020, the Economic and Social Stabilization Program approved by the Government of Portugal in the context of the response to the difficult economic situation created by the Covid-19 pandemic, deemed it essential to speed up the creation of an institution that would serve as a promotional development bank.

It was in this way that the new bank was born with the ambitious mission of “Financing the Future” and supporting Portugal’s economic and social development through the creation and provision of innovative solutions appropriate to the needs and challenges of the entrepreneurial ecosystem, by upgrading entrepreneurial capacity and creating jobs, and promoting the country’s economic, social and territorial sustainability and cohesion.

Relations and cooperation

ALIDE hailed the establishment of the new BFP, wishing it all success in its new mission of working for Portugal’s economic and social development based on the important experience of its former entities.

Eduardo Vásquez, the Association’s Head of Institutional Relations, stated in this connection that “ALIDE wishes to express its complete willingness to collaborate in the framework of Ibero-American integration by sharing experiences with promotional programs for the production and social sectors, sustainable finance, and business cooperation, with a view to internationalizing Ibero-American SMEs.”

The Bank’s officers, for their part, thanked ALIDE for its continuous support and collaboration. “Together, we will build our future, overcome our challenges and lead Portugal further ahead by means of sustainable financing,” Beatriz Freitas wrote in a communiqué sent to the ALIDE General Secretariat.

More information about BPF can be found at www.bpfomento.pt.

About ALIDE

ALIDE is the community of financial institutions that generates banking solutions for the development of Latin America and the Caribbean. Founded in 1968, its main objective is to contribute to the economic and social development of the region, through the good practices in development financing that it promotes among its associates, about 90 institutions with a presence in more than 20 Latin American countries and other regions of the world.

Contact

Hanguk Yun Officer, Comunication Unit Telephone: +511-203-5520 |: Ext: 226 comunicaciones@alide.org www.alide.org

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