European Commission - Directorate General for Energy
European Commission - Directorate General for Energy
12/23/2025 | Press release | Distributed by Public on 12/23/2025 04:54
Portugal makes early €2.5 billion repayment to the European Financial Stabilisation Mechanism
Today the Portuguese debt management office repaid €2.5 billion of its debt to the European Financial Stabilisation Mechanism (EFSM) - the EU instrument that provides financial assistance to any EU country facing severe financial difficulties, managed by the European Commission.
The repayment relates to the financial assistance programme for Portugal in 2011-2014. Under that programme, Portugal received €24.3 billion in EFSM loans, alongside financing from the European Financial Stability Facility and the International Monetary Fund . Following earlier repayments made in 2022 and 2023 amounting to €2 billion, €19.8 billion of EFSM loans remain outstanding.
The repayment was made in cash and fully covers the Commission's corresponding liabilities, ensuring that all relevant financial obligations are met. The funds received will be added to the Commission's funding pool under the diversified funding strategy and may be used to support other financial assistance programmes as needed.
The transaction does not affect bonds issued to finance EFSM loan disbursements, which will remain outstanding until their scheduled maturity.
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