The recent assessment from Brussels reinforces the “confidence trajectory” of the European Commission in the execution of Portugal’s Recovery and Resilience Plan (PRR), as stated in a newsletter by Fernando Alfaiate, President of the Portugal Recovery Mission Structure.
“It is the recognition of the joint effort of hundreds of public entities, from authorities to direct and intermediary beneficiaries, as well as private entities […]. Portugal continues to demonstrate execution capability and a strong commitment to a more resilient, sustainable, and digital society and economy,” he stated.
Portugal is set to receive 1.06 billion euros from the seventh payment request under the Recovery and Resilience Facility (RRF) of the NextGenerationEU program, the European Commission announced today.
In a statement, the European executive body noted that following the assessment of the payment request, the Commission concluded that Portugal satisfactorily met the 11 milestones and 16 targets of the Council’s Implementing Decision for the seventh tranche.
According to the Mission Structure, this evaluation confirms the country’s progress in implementing the plan, ensuring a disbursement of 1.064 billion euros net, raising the execution rate to 47%.
The seventh payment request includes 27 milestones and targets, with 21 related to investments and six to reforms.
Besides Portugal, Greece and Slovenia also had their payment requests approved, amounting to nearly four billion euros in total.
The PRR, with a period of execution until 2026, aims to implement a series of reforms and investments to restore economic growth.
Alongside repairing the damage caused by COVID-19, the plan aims to support investments and create jobs.
