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We are looking for people who aim to go further and face the future with confidence.
Extension of essential deadlines
On 9 March, Decree 74/2026 came into force, introducing the second amendment to Decree-Law 42/2010 of 30 April (“DL 42/2010”), which established the FPAIM to finance structural investment projects undertaken by or with the participation of Portuguese companies, particularly in the energy, environment, and infrastructure sectors.
The 2010 legal framework originated from Portugal’s commitment following the return of the majority ownership of the Cahora Bassa Hydroelectric Plant to the Mozambican State.
In light of DL 42/2010, the remainder of the Fund's capital was to be paid up by the end of the fifth year of its duration. Initially set at fifteen years from the commencement date, this period was defined under the aforementioned law.
In 2021, this law was amended by Decree-Law 95/2021 of 10 November. Under this new legislation, the deadline for realising the remaining capital was extended from 5 to 15 years, while the duration of the Fund remained unchanged at 15 years.
The legislation has recently been revised, with amendments introduced by Decree-Law 74/2026.
DL 74/2026 extends the duration of the FPAIM from 15 to 24 years, counting from the start of its activity. This adjustment aligns the FPAIM with the operational reality and financing needs of projects.
Similarly, the deadline for paying the remaining subscribed capital to the Fund has changed. This must now be completed by the end of the Fund's twentieth year. This ensures the strengthening of investment capacity, the ability to respond to delays and contingencies in ongoing projects, and the feasibility of new coherent operations.
Reasons for the recent change
Over the years, it has been found that the projects supported by the FPAIM often have a long maturity period, which depends on structural investment cycles, institutional cooperation and the local economic situation. Taking these factors into account, the Portuguese government deemed it necessary to adjust the duration and implementation deadlines for the remaining capital of the Fund. The aim is to:
DL 74/2026 is a timely and significant update to the FPAIM’s legal framework, aligning its duration and capital realisation schedule with the operational requirements of the projects.
The changes introduced in the recent legislative update reinforce the stability of the Fund and ensure the continuity of strategic partnerships. They also reaffirm Portugal's commitment to economic cooperation and the internationalisation of companies within the Portuguese-Mozambican context.