Bank of Portugal Boosts Cooperation Spending by 33%
The Bank of Portugal intensified its international footprint in 2025, dedicating more resources and funding to technical cooperation despite a slight decrease in the total number of initiatives. According to the recently released Annual Report on Cooperation Activity, the central bank’s cooperation budget surged by 33% over the past year.
Rising Costs and Increased Complexity
While the bank carried out 155 cooperation actions in 2025—two fewer than the previous year—the intensity of the work expanded. Bank employees dedicated 1,591 working days to these projects, up from 1,536 in 2024. Although the central bank did not disclose the exact monetary value of the budget, it cited three primary drivers for the 33% cost increase.
The regulator attributed the rise to a shift back toward in-person initiatives, the growing technical complexity of modern financial oversight, and major structural projects. Key among these were the return of the prestigious “Lisbon Meeting” to Portugal and the expansion of the European System of Central Banks (ESCB) cooperation program focused on Africa.
Focus on the Lusophone World
The Portuguese-speaking world remains the cornerstone of the bank’s international strategy. Central Banks of Portuguese-Speaking Countries (BCPLP) were partners in 75% of all actions conducted in 2025. In terms of bilateral partnerships, Cape Verde led the way with 25 actions, followed by Angola (16), Mozambique (14), and São Tomé and Príncipe (13).
Agility in Execution
The bank also reported a significant improvement in its “execution rate,” which rose to 86% in 2025 compared to 74% in 2024. While 18 planned actions were canceled, the bank proved its adaptability by launching 48 unplanned initiatives throughout the year to meet emerging technical needs and additional requests from international partners.
“This demonstrates the Bank’s availability and capacity to respond to additional requests and cooperation opportunities arising throughout the year,” the report stated, highlighting a proactive stance in global financial diplomacy.
Image: Pexels – Matheus Natan
