European Commission gives “green light” to Portugal’s RRP
Portugal was the first country to conclude its Recovery and Resilience Plan (RRP), a process that began in October 2020. At stake is €16.6 billion of total funding.
Brussels gave the “green light” this Wednesday to Portugal’s Recovery and Resilience Plan (RRP). The European Commission had already announced that this approval could happen, and Ursula von der Leyen made the official announcement, alongside António Costa, at the Pavilhão do Conhecimento. The plan “will profoundly change the Portuguese economy,” she says.
The Portuguese plan “will make Portugal emerge stronger” from this crisis, and “corresponds to the requirement criterion that was established,” said the head of the European Commission. “It will help to build a better future for Portugal, for the Portuguese people and for the EU,” she added.
The Portuguese prime minister underlines it is an “ambitious and transforming plan with a lasting impact on the economy and social fabric,” which will serve not only “to respond to the pain of the crisis,” but also “to allow us to go faster and further towards convergence with the EU.” António Costa underlines that this RRP “is not a blank cheque, it is a commitment that has goals, objectives and deadlines.”
The first grants could start arriving as early as July, instead of August, as had been put forward by the European Commissioner for Budget and Administration, Johannes Hahn.
