The European Commission has today approved the disbursement of another €2.9 billion to Portugal, as part of the fifth Recovery and Resilience tranche of funding, set up after the Covid pandemic to foster economic recovery.The amount is divided into €1.65 billion in grants and €1.25 billion in loans, and was approved following the EU executive’s positive assessment of Portugal’s fulfilment of the 27 milestones and 15 targets required. Portugal’s Plan for Recovery and Resilience Plan (PRR) covers a wide range of investment and reform measures. In total, the PRR will be financed to the tune of €22.2 billion (€16.3 billion in grants and €5.9 billion in loans).
European Commission approves disbursement of 5th tranche of PRR funding
