EU hands out €2.2B recovery, resilience cash, 13% of €16.6B total for Portugal

  • Lusa
  • 3 August 2021

The EU disbursed €2.2 billion to Portugal relating to the 13% pre-financing of the overall €16.6 billion Recovery and Resilience Plan approved last month.

The European Commission on Tuesday disbursed €2.2 billion to Portugal relating to the 13% pre-financing of the overall €16.6 billion Recovery and Resilience Plan approved last month.

Portugal, which was the first Member State to formally deliver in Brussels its national plan to access the Recovery and Resilience Mechanism funds – a central element of the “NextGenerationEU” package agreed in the EU to overcome the Covid-19 crisis – and the first to see it approved, is thus also among the first countries to receive funds, along with Belgium and Luxembourg, which also received today disbursements of €770 million and €12.1 million, respectively.

Stressing that “this payment will help launch the implementation of key investment and reform measures outlined in Portugal’s recovery and resilience plan”, the EU executive said that it will authorise further disbursements “depending on the pace of implementation of the investments and reforms described in that plan.”