Portugal is one of the quickest countries to implement RRP
- Portugal Business News - Valerie Charoux
- Feb 25, 2023
- 1 min read
Portugal is one of the quickest countries to implement the EU Recovery and Resilience Plan (RRP). According to the Commission’s 2022 report, Portugal is one of the 5 countries that have already received the funds coming from the second payment request.
The funds were disbursed since Portugal implemented the plan ahead of most other EU countries, having accomplished 17% of the goals. From the funds that were allocated, 76% of the amount was made available through Calls for Proposals, with 72% of this budget already allocated and a total of EUR 1.5 billion having already been paid.
The key strategic areas on which Portugal focused for the implementation of the RRP funds are the Development Bank with additional capital amounting to EUR 250 million, mobilizing programs under the Agency for Competitiveness and Innovation IAPMEI, the decarbonization of industry including digital accelerators, the environment, energy efficiency including green hydrogen projects with an additional EUR 100 million due to a large number of applications, the Lisbon subway with a new subway line between Loures and Odivelas, computers in schools as well as housing with 26,000 houses to be built.
