The request, submitted on November 14, 2024, was approved following the successful completion of 32 milestones and targets outlined in the Recovery and Resilience Plan (PRR).
The reforms and investments encompass strategic sectors such as health, the judicial system, housing, forest fire management, renewable energies, and the improvement of the business environment, according to a statement from the European Executive.
The preliminary assessment was sent to the Economic and Financial Committee, which has four weeks to issue its opinion. After that, the Commission adopts the final decision and can proceed with the payment.
In total, the Portuguese recovery plan is funded by 22.2 billion euros in grants and loans, aimed at boosting sustainable growth and strengthening public services in the country.
The European Union’s Economic and Financial Committee was established to promote policy coordination among Member States, issuing opinions at the request of the EU Council or the European Commission.
