IFIC: Communications to Applicants move forward, with a focus on faster decisions

. 2025-12-11

Companies rose to the challenge and submitted 5,069 applications totaling €2.705 billion across the four Investment Programs of the Financial Instrument for Innovation and Competitiveness (IFIC).

To ensure that entrepreneurs can learn the decision on their application as quickly as possible and plan their investments with confidence and predictability, BPF, in partnership with PRR – Recover Portugal, is ensuring swift and close communication with companies.

What we are doing:

On December 2, BPF sent all applicants their respective application certificate, a purely informational document that summarizes the main elements of the submitted project;
On December 10, in compliance with legal and regulatory obligations, the process of collecting the information and documentation required from companies to complete the Know Your Customer (KYC) process was initiated. This is an indispensable procedure within the evaluation process and is mandatory under Law No. 83/2017 of August 18. This step does not represent approval of the application and applies to all companies that applied. You can consult our KYC FAQs on the page KYC | FAQs – Banco Português de Fomento;
To help companies with the KYC submission process via the Banking Portal, BPF provides a support document with practical instructions and useful guidance to facilitate completion. These instructions are also integrated into the form itself;
In order to streamline the optional use of complementary financing to the grant, should it be approved, BPF also informed all applicants that—unless they indicate otherwise—the information contained in the application certificates will be made available to commercial banks.

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