The application period for the IFRRU 2020 was an Investment Support Program in the field of Urban Rehabilitation.
The dissemination carried out by the Agency for Development and Cohesion was carried out in the following terms:
“We are all called to have CITIES WITH FUTURE”
Applications for the financing of projects under the Financial Instrument for Urban Rehabilitation and Revitalization – IFRRU 2020 are open.
IFRRU 2020, which operates nationwide, is a financial instrument created under Portugal 2020 whose objective is 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 European funds. The funding comes from all the regional operational programs of Portugal 2020 (PO North 2020, PO 2020, PO Lisbon 2020, PO Alentejo 2020, CrescAlgarve 2020, PO Azores 2020, PO Madeira 14-20 and PO SEUR) to this end, by the State with the European Investment Bank (EIB) and the Council of Europe Development Bank (CEB), together with the funds made available by the selected banks, which leverage public funds.
The achievement of this step highlights the commitment to provide the means to revitalize cities, thus contributing to the creation of housing, attracting new residents to urban areas that are currently degraded and creating jobs, stimulating economic activity .
Applications can be submitted to the four selected banks through an international public tender, with prior qualification, to work under IFRRU 2020: Santander Totta, Banco Português de Investimento (BPI), Millennium BCP and Banco Popular Portugal. The entity responsible for the management of guarantees is the Portuguese Mutual Counter-guarantee Society (SPGM), which manages the Portuguese Mutual Counter-Guarantee Fund.
Under IFRR 2020, applications for financing are presented at the moment the investor considers most appropriate for their investment. There are no pre-determined phases each year for the submission and decision on applications, nor limits on the number of applications. applications.
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 opinion 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.