en.Wedoany.com Reported - The Portuguese Urban Rehabilitation and Revitalization Financial Instrument (IFRRU 2030) has signed a cooperation agreement with Santa Casa da Misericórdia de Lisboa (SCML). Under the agreement, the two parties will collaborate on the renovation of affordable housing and buildings with housing potential, including the implementation of energy efficiency improvement interventions.

The cooperation encompasses the sharing of technical and financial expertise, aiming to develop sustainable solutions for housing renovation and optimize related financing models. At the signing ceremony, Isabel Barroso de Sousa, Chair of the IFRRU 2030 Management Committee, and Paulo Sousa, Director of Santa Casa da Misericórdia de Lisboa, signed on behalf of their respective institutions.

IFRRU 2030 integrates financing from the Council of Europe Development Bank (CEB) and the European Investment Bank (EIB), supplemented by national public co-financing and participation from private financial institutions, leveraging capital to amplify investment scale. The instrument is currently in the final stages of negotiating an initial financing of approximately €480 million. Including additional resources from commercial banks and investors, the total investment is expected to reach around €1 billion.

Financing will be disbursed through commercial banks under terms more favorable than market conditions, with a simplified application process and no restrictions on geographic location or beneficiary status. Individuals and legal entities, whether public or private, for-profit or non-profit, may submit applications. The funds are expected to become available to investors in early 2027.