Portugal secures €400M to upgrade elderly care facilities

  • elderly-people
    October 30, 2020
    Brussels makes 200 million available to Portugal to finance elderly care infrastructures.

    Portugal has secured €400m in financing to upgrade the infrastructure needed to care for elderly people across Portugal. The funds go to entities in the tertiary sector that already provide services to the elderly in Portugal, especially in the fields of health, housing and social support.

    The European Investment Bank (EIB) and the Instituição Financeira de Desenvolvimento (IFD) joined forces to finance the €400m programme. The EU bank will provide the IFD with a €200m loan. The funds will be allocated to entities promoting the construction, refurbishment and upgrade of the infrastructure.

    Portugal has one of Europe’s highest percentages of unhealthy seniors over the age of 65. This project will improve the availability of care services for the elderly and people with disabilities in Portugal, with a direct positive impact not only on the quality of life of people in need of care, but also on their support network, such as family members and the medical community.