Development bank takes stock of 1Q

The President of Portugal’s development bank – Banco Português de Fomento – Gonçalo Regalado took stock of his first 100 days in front of the bank this week and outlined the main strategic objectives that need to be met by the end of 2025.

Gonçalo Regalado said the plans objectives were to boost business investment in Portugal and highlighted a financing package for the first stretch of the TGV high-speed rail link between Porto to Oiã and the Portugal-Angola Convention to end double taxation on income tax and measures to prevent fraud and tax evasion – a plan that will involve €2.5Bn of Portuguese investment in Angola backed by public guarantees from both states.

On the first 100 days of his term, from the various measures that have been implemented an d which reflect the bank administration’s new approach, the most important was the issuance of 125,000 pre-approved guarantees worth €24Bn that have been sent directly to 120,000 companies.