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Ponta Delgada ,  January 17, 2014

Rules on Support Line for Urban Renewal amounting to 50 million Euros established

The Rules on the Support Lines for the Urban Renewal of the Azores were published in the Official Journal on Friday. They provide clarification on some aspects concerning the implementation and operation of this line of credit.

Having been defined through a protocol signed with several banking institutions in September 2013, the Support Line for Urban Renewal facilitates the granting of 50 million Euros in bank credit for the renewal and recovery of buildings in the Azores. This support measure is also intended to enhance the energy efficiency of buildings, improve accessibility to buildings or the acquisition of technical devices to support citizens with reduced mobility.

The Vice-President of the Azorean Government said this measure "reflects the priority status" the Government awards to urban renewal, stressing that this line of credit will "certainly contribute to a significant increase in urban renewal" in Azorean urban areas.

According to Sérgio Ávila, this support measure will also "stimulate economic activities through the support to companies" as well as provide an effective support to building owners so that they may "benefit from better financing conditions compared to those they had until now."

Private companies, cooperatives, owners, co-owners and individuals with the right of surface occupation are the eligible beneficiaries of this support measure. The support allocated under this line of credit can reach a maximum amount corresponding to 75% of the total project cost with bonus spread of 80% that can up to a maximum of 4.8%.

The repayment deadline for urban renewal operations can go from 8 to 25 years with a grace period that can vary between two and four years, depending on the type of building.

The maximum of support to be granted to each beneficiary is set at 200 thousand Euros for three consecutive financial years, given that this support measure is allocated under the so-called "De Minimis Rule," according to European Union regulations.

Applications must be submitted to the banking institutions that have signed the protocol with the Government of the Azores for the implementation of this line of credit.  For further information on this measure, those who are interested may consult the internet site of SDEA - Society for the Business Development of the Azores, the managing entity of this line of credit, at

To date, Montepio Geral, Banif, Banco Espírito Santo dos Açores, Caixa Económica da Misericórdia de Angra do Heroísmo and Caixa de Crédito Agrícola Mútuo dos Açores are the banking institutions that have joined this line of credit.


Official government press-releases presented in all foreign languages interfaces of the Azorean Government Portal (Portal do Governo dos Açores) are a sub-set of the government's official press-releases daily output and are chosen for translation and publication on the foreign language interfaces based on audience segmentation criteria. The entire collection of the Azorean government press-releases is available in portuguese, here, from the GACS Press Office site.

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