Applications to finance projects under IFRRU 2020 - Financial Instrument for Urban Rehabilitation and Revitalization are open. IFRRU 2020, which operates nationwide, is a financial instrument created under Portugal 2020, with the goal to finance urban rehabilitation operations in the Urban Rehabilitation Areas (ARU) delimited by the Municipalities.
The grants correspond to loans on terms that are more advantageous for developers than those currently available on the market, for the complete rehabilitation of buildings, for housing or other activities, including the most appropriate integrated energy efficiency solutions in rehabilitation, with a investment, by operation, up to 20 million euros.
These loans are available in all regions, and are not only directed at the largest urban centers in the country, and for all types of beneficiaries, whether natural or legal persons, public or private.
For projects that do not have sufficient guarantee, the IFRRU 2020 also provides, alternatively, a guarantee through the Portuguese Mutual Guarantee System, which is only accessible to companies.
IFRRU 2020 makes available to all investors EUR 1,400 million for investment in urban rehabilitation, with funding from EU funds.
The financing also comes from loans made by the State to the EIB - the European Investment Bank and the CEB - the Development Bank of the Council of Europe, together with the funds made available by the selected banks, which leverage public funds.
The formalization of applications is simple and takes place in three steps:
1. Each municipality will have an IFRRU 2020 stakeholder, who will issue the framework for their project and support it in the licensing process.
2. In order to allow the choice of the best solutions to increase the energy efficiency of the property to be rehabilitated, a qualified expert will carry out the Energy Certification.
3. The loan request is made at a branch of the commercial network of any of the selected Banks.