The exceptional assistance package, first approved in 2008, is an emergency package designed to stabilise the financial markets by providing guarantees to funding operation by eligible credit institutions.
The scheme provides state guarantees to financing contracts and non-subordinated short and medium term debt issues of solvent banks based in Portugal.
The second State aid package was approved in June 2013 and is a guarantee scheme, through which the State guarantees bank loans provided via the EIB to companies in Portugal.
The scheme will allow financing of the real economy provided by the EIB to continue through all the banks that are involved in the scheme.
The EC said it considered both schemes were in line with established guidelines, and particularly, that they have a time limit and are made available on a non-discriminatory basis.