Portugal receives 15.5 billion euros in grants from the Recovery Fund

  • ECO News
  • 27 May 2020

If the European Commission's proposal is approved by the European Council, Portugal will receive 26.3 billion euros from the European post-Pandemic recovery fund.

The European Commission’s proposal for the European Post-Pandemic Recovery Fund foresees that Portugal will receive 26.3 billion euros, according to ECO.

The 26.3 billion euros is divided between 15.5 billion euros in non-recoverable grants and 10.8 billion euros in loans. This corresponds to about 13% of Portuguese GDP in 2019 and about 3.5% of the total value of the fund of 750 billion euros.

Italy and Spain, which are among the countries most affected by the pandemic, are the ones that may receive the most money from this fund if it is approved in these terms by the European Council.

the European Commission states that the 15.5 billion in grants includes the REACT EU, RRF, Just Transition Fund and Rural Development.

The loans are calculated based on the weight of Portugal’s GNI (gross national income) in the European Union and concerning the European average. Countries with wealth below the European average are among the most benefited.