Klaus Regling: ESM returns €1.1 billion to Portugal

  • ECO News
  • 16 July 2021

ESM Managing Director is confident that the Portuguese government can make "good use of the money" that has now been returned, relating to the prepaid margin of the loan granted in the last crisis.

The European Stability Mechanism (ESM) has returned €1.1 billion euros to Portugal, according to Jornal Económico. This amount corresponds to the prepaid margin of the loan granted during the last crisis.

The sum was transferred last week to Portugal, according to Klaus Regling. The ESM Managing Director believes that the Portuguese government will make “good use of the money”.

In the same interview, the head of the ESM also talks about the Portuguese Recovery and Resilience Plan (RRP), which was approved by Ecofin. He classifies the national RRP as “good”, as well as the Italian, Greek and Spanish plans. However, he admits that the implementation will be a challenge for all countries.