The European Commission has today announced the release of the fifth payment to Portugal, amounting to €2.9 billion, as part of the Recovery and Resilience Facility (RRF).
This financial package consists of €1.65 billion in grants and €1.25 billion in loans. Portugal’s request for disbursement was submitted on July 3, and Brussels has positively evaluated the achievement of 27 milestones and 15 targets outlined in the country’s recovery and resilience plan.
The milestones and targets focus on various reforms, including waste management, addressing energy poverty and improving energy efficiency, developing renewable hydrogen and biomethane, advancing capital markets, and simplifying the tax system.
Additionally, this funding will support investments in several key areas, such as medical equipment, housing solutions, sustainable mobility, renewable hydrogen and other green gases, business financing, decarbonizing public transport, enhancing business digitalization, modernizing tax and customs systems, and fire prevention initiatives.
In conjunction with Portugal’s disbursement, the Commission has also released funds to several other countries under the RRF, including €1.7 billion to the Czech Republic, €13.5 billion to Germany, €8.7 billion to Italy, and €37.05 million to Romania. Overall, these payments amount to a total of €26.8 billion in loans and grants.
To date, the total disbursed under the RRF has surpassed €300 billion.
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