BPF Program — Reconstruction Support (Apoio à Reconstrução)

BPF Program — Reconstruction Support (Apoio à Reconstrução)

Funds storm-affected Portuguese businesses with emergency credit and reconstruction support for recovery.

Programa BPF Apoio à Reconstrução is a €1.5 billion emergency financing programme launched by Banco Português de Fomento on 4 February 2026 in direct response to storm damage caused by depressão Kristin in January 2026. The programme is available exclusively to companies operating in municipalities officially declared in a state of emergency or calamity from January 2026 onward. It provides rapid access to state-guaranteed credit to cover reconstruction costs and working capital shortfalls caused by the storm, with guarantees covering 70 to 80 percent of each loan depending on company size.

The programme is structured into two sub-lines. The Investimento line (€1 billion) finances up to 100 percent of verified storm damage net of insurance recoveries, with loan terms of up to 10 years and a grace period of up to 36 months during which neither principal nor interest is repayable. A conditional grant conversion feature allows up to 10 percent of the Investimento loan principal to become non-repayable after three years, provided the company has maintained both activity and employment at the required levels. The Tesouraria (working capital) line (€500 million) offers up to €2.5 million per company, with terms of up to 5 years and 12 months of grace. Both lines are free of guarantee commissions and standard banking fees, and are distributed via commercial banks.

Eligible applicants include for-profit companies and qualifying nonprofits registered or operating in the declared municipalities. Applicants approach their commercial bank directly to initiate the process, with BPF providing the guarantee framework behind the scenes. To qualify for the grant conversion on the Investimento line, companies must document original damage assessments, insurance settlements, and subsequent employment and activity data at the three-year review point. The programme operates on an open basis without a fixed application deadline, though eligibility is tied to the formal declaration period.