Portuguese firms secure €1.6 bn reconstruction loans after Storm Kristin

Four months after Storm Kristin hit central Portugal, the Banco Português de Fomento (BPF) reported that affected companies have already contracted or are in the process of contracting €1.566 billion in commercial‑bank financing, representing 91 % of the total amount applied for under the Reconstruction Support Lines. In total, 10 827 applications have been lodged, requesting €1.92 billion, of which 9 210 complete applications amount to €1.886 billion and 365 pending requests total €92 million.

The financing has been delivered through 7 992 contractual “packs” in partnership with major Portuguese banks, including Caixa Geral de Depósitos, Millennium BCP, Novo Banco, BPI, Crédito Agrícola, Santander Totta, Montepio, Bankinter and Abanca. Transforming industries received the largest share (29 % of the total), followed by commerce (26 %). Micro and small enterprises constitute 86 % of the applications and account for 49 % of the approved funds. Geographically, the district of Leiria attracted the highest financing request (€882 million), with Santarém, Coimbra, Lisbon and Aveiro also receiving significant allocations.