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IFRRU Funnels €538M in Investments to 60 Portuguese Municipalities   

9 January 2020 – Portugal’s IFRRU 2020 Urban Rehabilitation Program has invested a total of €538 million in 176 building rehabilitation projects around the country, according to a report by the Ministry of Infrastructure and Housing. The Ministry also revealed that the European Commission and the European Investment Bank (EIB) had named the program a ‘case study’ that should be evaluated EU-wide.

The IFRRU 2020 is a public financial instrument used to support investments in urban renewal. The fund brings together various sources of funding, such as European funds from Portugal 2020, investment from groups such as the European Investment Bank and the Council of Europe Development Bank and funds from commercial banking groups.

Original Story: Diário Imobiliário / Lusa

Translation/Summary: Richard D. Turner