Portugal has submitted the eighth payment request for the Recovery and Resilience Plan (PRR) to the European Commission today, confirming 22 milestones and targets while advancing another 14, announced the Ministry of Economy and Territorial Cohesion.
“This advancement not only demonstrates the maturity of execution but also the planning and management ability of a financial instrument that continues to be central in the public policy of economic, social, digital, and environmental transformation of the country,” stated Recuperar Portugal in a newsletter released today.
The coordinating body for the PRR’s execution emphasized that this is an unmistakable sign of the operation’s efficiency and collective commitment, noting that it is more than an investment plan but a commitment to the country’s future.
This payment request covers components ranging from health, qualifications, forests, industry decarbonization, sustainable mobility, and digitalization.
At the end of the last month, Portugal also submitted a new PRR revision to Brussels to ensure the execution of all milestones and targets by August 31 of the next year.
In a statement released at the time, the government stated that the revision ensures “all grants foreseen in the PRR will be fulfilled,” that “all PRR grants will be invested,” some targets have been increased, others decreased, ensuring that the final value remains the same, and that “works initially planned to be financed with PRR loans that cannot be executed by August 2026, amounting to 311 million euros, will be executed using other loans at equivalent interest rates.”
This includes “the case of the red line of the Lisbon Metro,” specified the Ministry of Economy and Territorial Cohesion, following reports that the project’s financing could be at risk due to delays in its advancement.
“We thus maintain the course set, with the determination and rigor that characterize the execution of the PRR. With this new stage, Portugal reaffirms its position among the countries with the highest execution rate of the PRR, showcasing solid, transparent, and results-oriented work that continues to contribute concretely to a more resilient, more sustainable, and more digital Portugal,” stated the president of Recuperar Portugal, Fernando Alfaiate.
The PRR, which has an execution period until 2026, aims to implement a set of reforms and investments to foster economic growth recovery.
Besides aiming to repair the damage caused by COVID-19, this plan intends to support investments and generate employment.
