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NextGenerationEU: European Commission endorses positive preliminary assessment of Portugal's request for €1.16 billion disbursement under the Recovery and Resilience Facility

The European Commission recently (25 March 2022) endorsed a positive preliminary assessment of Portugal's payment request for €1.16 billion, of which €553.44 million of grants and €609 million of loans under the Recovery and Resilience Facility (RRF), the key instrument at the heart of NextGenerationEU.

On 25 January, Portugal submitted to the Commission a payment request based on the achievement of the 38 milestones and targets selected in the Council Implementing Decision for the first instalment. They cover reforms in the areas of health, social housing, social services, investment and innovation, qualifications and skills, forestry, the blue economy, bio-economy, renewable gases (including hydrogen), public finances and public administration. Several targets also concern investments in the areas of infrastructure, decarbonisation of industry and digital education.

With their request, the Portuguese authorities provided detailed and comprehensive evidence demonstrating the fulfilment of the 38 milestones and targets. The Commission has thoroughly assessed this information before presenting its positive preliminary assessment of the payment request.

The Portuguese recovery and resilience plan includes a wide range of investment and reform measures in 20 thematic components. The plan will be supported by €13.9 billion in grants and €2.7 billion in loans, 13% of which (€2.2 billion) was disbursed to Portugal in pre-financing on 3 August 2021.

Payments under the RRF are performance-based and contingent on Member States implementing the investments and reforms outlined in their respective recovery and resilience plans.

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Original article link: https://ec.europa.eu/commission/presscorner/detail/en/IP_22_1965

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