BPI/RRP Line

BPI supports the entities with applications submitted to the Recovery and Resilience Plan (RRP), guaranteeing their financing needs, regardless the approval of the incentive by the RRP Management and Governance Entities.

The Recovery and Resilience Plan (RRP) is a programme aimed to mitigate the economic and social impact of the pandemic on the Portuguese economy.

In this context, BPI has created a line with the purpose of ensuring the financing needs of entities with applications submitted to the RRP.

Through this line, BPI provides financing solutions for the different phases of the project:

• Not decided yet from the RRP Management and Governance Entities:
  After submission of the application form/expression of interest.
• Already approved by the RRP Management and Governance Entities, through the following modalities:
  - Incentive Advance;
  - Complementary Financing;
  - Advance payment of the Incentive Advance + Complementary Financing.

• Guarantees the projects financing regardless of their approval by the RRP Management and Governance Entities;
• If the incentive is approved with financing already in progress, the Beneficiary does not need to sign a new contract with BPI;
• Maintenance of the ongoing loan for the initially contracted term (maximum of 8 years) if the project is not approved by the RRP Management and Governance Entities;
• Possibility to anticipate the incentive approved by the RRP Management and Governance Entities;
• Possibility to finance the investment in the component that was not considered as an incentive for the project.

Companies, Individual Entrepreneurs (IE) and Self-Employed Professionals within the scope of their professional activity, Business Associations and Public Entities (including Public Administration):

• with investment projects submitted to the tenders launched in the scope of the RRP;
• with the situation settled with the Tax Administration and Social Security;
• without unjustified incidents or defaults with the Banks;
• without fulfilling the conditions to be subject to bankruptcy or insolvency proceedings.

Investment projects submitted to the tenders launched under the RRP, in the following project phases:

Pre-approval of the incentive:

• Projects submitted but not yet decided by the RRP Management and Governance Entities.

Post-approval of the incentive - projects already approved by the RRP Management and Governance Entities, through the following modalities:

• Advance payment of the incentive: BPI advances the incentive approved by the RRP Management and Governance Entities to the Customer;
• Complementary financing: BPI finances the investment in the component that was not considered an incentive for the project;
• Advance payment of the incentive + Complementary financing: the Customer may opt for both purposes, which can be materialized into a single financing.

• Pre-approval of the incentive
  Percentage (defined on a case-by-case basis) over the amount of eligible and non-eligible investment of the project (excluding equity), foreseen in the application.
• Post-approval of the incentive
  Up to 100% of the project's effective components: Incentive + Eligible Non-Incentive (already deducted from the project's Mandatory Equity, if applicable) + Non-Eligible

Maximum Maturity

Pre-approval of the incentive:

• Up to 8 years, and the term must be adjusted to the forecasted cash-flows of the investment project.
  
  After the decision of the RRP Management and Governance Entity(ies):

• In case of project approval: upon receipt of each incentive payment, early repayment of the credit in the amount corresponding to the incentive amount;
• In case of non-approval of the project, settlement reimbursement until the maturity date of the operation.

Post-approval of the incentive

• Complementary Financing: up to 8 years, with the term to be adjusted to the forecasted cash-flows of the investment project.
• Incentive Advance: up to the execution period of the investment project (established in the contract signed with the RRP Management and Governance Entity(ies)).

In the modality of Incentive Advance, the capital reimbursement shall be made after each payment made by the Paying Entity, or within the maximum period corresponding to the deadline for execution of the investment project, whichever occurs first.

Capital grace period: up to 2 years

Conditions applicable to financing in the pre-approval phase of the incentive

1. After submission of the application to the RRP, upon delivery of a copy of the complete application, BPI is available to finance the eligible and/or non-eligible investment of the project* (excluding equity), with a maximum term of 8 years.
   
   * Percentage of project funding defined on a case-by-case basis.
    
2. After approval of the project and signing of the respective contract with the RRP Management and Governance Entity(ies), the Client must deliver a copy of this contract within 10 days after having signed and acknowledged the respective signatures, with the indication of the Client's IBAN at BPI for domiciliation of incentives.
   
   Without the need to formalize a new contract, the funding will be converted into an incentive advance in the amount corresponding to the approved incentive, and into complementary funding in the amount corresponding to the non-incentivized amount. In case that the Customer wish to use a different distribution, he must, within 10 days, express this intention in writing.
   
   3. If the project is not approved by the RRP Management and Governance Entity(ies), the operation contracted with BPI remains under the same conditions initially approved.

This information is provided for advertising purposes and does not constitute a contractual offer; you must read the pre-contractual and contractual information required by law.

Contracting subject to prior approval by the entities involved and subject to the conditions defined according to the risk profile of each operation.

Banco BPI, S.A., Rua Tenente Valadim, 284, Porto, Tied Insurance Intermediary no. 207232431 (registered with the Insurance and Pension Funds Supervision Authority on 31-10-2017 - more details on the registration available at www.asf.com.pt); authorised to carry on insurance business in the Life and Non-Life Branches with the insurers BPI Vida e Pensões - Companhia de Seguros Vida, S.A., Companhia de Seguros Allianz Portugal, S.A. and COSEC - Companhia de Seguro de Créditos, S.A. Banco BPI, S.A. is not authorised to receive premiums or enter into contracts on behalf of COSEC, Allianz or BPI Vida e Pensões and, as an insurance intermediary, assumes no responsibility for the coverage of risks inherent in the insurance contract.