The European Investment Bank announced a €1.5 billion loan for Portugal on 7 September; the two sides signed an initial €500 million tranche that day for investments under municipal Local Housing Strategies. The bank said the overall financing would support the construction or rehabilitation of 50,000 social housing units across the country.

The programme aims to improve housing quality, safety, accessibility and energy performance while contributing to urban regeneration. The 50,000 figure is the total planned new and rehabilitated units, not a count of completed homes. The loan will support social housing investments through strategies in which municipalities identify local needs and priorities.