Brussels gives green light to second tranche of RRP
At stake is the request for funding under the Recovery and Resilience Plan (RRP) submitted by Portugal to the European Commission in September.
The European Commission approved the second disbursement to Portugal on Friday, amounting to €1.8 billion, under the RRP, after the targets met under the recovery funds, said the community executive in a statement.
At stake is the request for funding under the Recovery and Resilience Plan (RRP) submitted by Portugal to the European Commission in September, amounting to €1.8 billion (net of pre-financing), of which €1.71 billion is in grants and the remainder in loans.
Before issuing the green light, the European Commission validated compliance with the 18 milestones and two targets associated with the second disbursement.
The 20 milestones include reforms and investments in the area of health, such as the entry into force of the new management contracting model, and the ecological transition and adaptation to climate change, such as the approval of bioeconomy innovation projects in the textile, footwear and resin sector, inclusive and sustainable growth.
Portugal also met the milestones and targets associated with digital transformation, social policies and inclusive and sustainable growth.
In March, the European Commission approved the first disbursement to Portugal, and it was paid in March, amounting to €1.16 billion, of which €553.44 million was grants and €609 million was loans.