Lisbon, Sept. 16, 2026 (Lusa) - The Banco Português de Fomento (BPF) has approved more than 20,000 transactions since the start of this year, totalling €4.7 billion, the minister for the economy said on Wednesday, highlighting the institution's role.

«The Banco Português de Fomento plays a very important role in financing businesses and in creating better conditions for business financing,» said Manuel Castro Almeida, speaking at the parliamentary committee on the Economy and Territorial Cohesion as part of the statutory hearing.

The Banco Português de Fomento «has, since the start of the year, approved more than 20,000 transactions totalling €4.7 billion», the minister said.

However, «I would like to point out an important change here: as of 1 September, the Banco Português de Fomento has become the export credit insurance agent in Portugal».

COSEC was, «until now, a private company providing export credit insurance which had very limited activity», and «companies highlighted the challenge, and continue to do so, of obtaining export credit insurance, precisely at a time when it was necessary to find new customers in new markets», said Castro Almeida.

The minister emphasised that Portugal «needs to grow by relying on domestic consumption and by fostering and accelerating GDP growth through increased exports».

In this regard, «we must make a strong and ever-increasing commitment to helping companies, which play an essential role in this process, but our aim is to help companies increase their export volumes», he concluded.

ALU/ADB // ADB.

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