Our History

The XXII Constitutional Government’s Programme proposed the development of a new financial institution with the aim of strengthening the financial capacity of the national business ecosystem and accelerating the various existing sources of funding dedicated to investing in sustainable projects, carbon neutrality, and the circular economy. The programme also emphasised the importance of mobilising the most suitable financial instruments to promote a green economy, in line with European guidelines on sustainable finance.

In June 2020, the Economic and Social Stabilisation Programme, approved by the Government in response to the economic challenges posed by the COVID-19 pandemic, identified the need to expedite the creation of an institution that would serve as a promotional development bank. This institution would leverage synergies by ensuring better coordination and integration of investment, innovation, and internationalisation support mechanisms.

Thus, on 3 November 2020, the Banco Português de Fomento, S.A. was established. It resulted from the merger by incorporation of PME Investimentos - Sociedade de Investimento S.A., IFD - Instituição Financeira de Desenvolvimento S.A., and SPGM - Sociedade de Investimento S.A., as outlined in Decreto-Lei n.º 63/2020 de 7 de setembro. This unique institution develops innovative solutions to support both national and international projects, fostering sustainability and economic development.