Brussels gives Portugal’s PRR – recovery plan – official green-light. Portugal is the first country in the European Union to implement the recovery and resilience plan (PRR).

Portugal became the first European Union country, on Wednesday, 16th of june, to receive the green light from Brussels for its recovery and resilience plan. This plan is intended to overcome the economic consequences of the pandemic. The Portuguese PRR is worth around 14 billion euros, to which is added an amount of 2.3 billion in loans.

The President of the European Commission, Ursula von der Leyen, personally delivered to Prime Minister, António Costa, the result of the analysis carried out by the European Commission and the corresponding recommendation to the Council concerning the approval of the recovery and resilience plan of Portugal as part of the EU’s “Next Generation” plan.

Ursula wished Portugal success, as its success is also “the success of the European Union”, and believes that these funds will allow Portugal to “build a better future”. Convinced that the Portuguese PRR “will profoundly transform the Portuguese economy”, von der Leyen warned that “the work starts now” and that this plan represents “a challenge and an enormous opportunity”.

Portugal, which holds the six-monthly presidency of the EU, wanted to set an example by becoming the first country, in April, to submit its investment projects to Brussels.

The European Council will then give its formal approval, within one month of the validation by the Commission. The first installments are scheduled for July.Call our team with your investment project: +351 915 990 790 | +351 289 098 720 |