EDP and Galp call in Davos for 'more implementation' to reindustrialise the Iberian Peninsula
The Iberian Initiative for Industry and Energy Transition (IETI), led by McKinsey and bringing together energy companies such as EDP, Galp, Iberdrola, Moeve, Naturgy and Repsol, brought to the World Economic Forum (WEF) annual meeting in Davos a discussion that resulted in five priorities for the future. These companies want 'more implementation' so that the ...
€1 billion credit line for industry and defence will have a two-year grace period
A preliminary protocol for Banco Português de Fomento’s new Financial Instrument for Innovation and Competitiveness (IFIC) foresees a €1 billion credit line covering projects in reindustrialisation, defence and artificial intelligence. Companies using bank loans to finance the portion of IFIC‑supported projects will benefit from a two‑year grace period, easing early repayment pressures and potentially encouraging private co‑finance. The measure signals a targeted industrial‑policy push to mobilise investment and employment in strategic sectors while leveraging public support to unlock additional bank lending.
