Portugal receives €1.34Bn for sixth tranche of recovery and resilience funds

Portugal has received the sixth tranche of European funding for its Recovery and Resilience Plan worth €1.35Bn according to the Ministry of the Economy and Territorial Cohesion.

This sum includes €851 million in grants and €485 million in loans, the result of having achieved 32 targets in strategic areas such as health, education, digital transition, climate, forestry and financial support to companies.

With this payment, Portugal has now received 57% of the total amount of nearly €22.2Bn. At the end of June the government submitted a request for the seventh tranche of the grants and loans from the European Commission, “with Portugal continuing to meet the timetable agreed with Brussels”.

The request for the seventh tranche of the RRP will be spent on 21 investments and five reforms
associated to areas such as health, housing, social programmes, companies capitalisation and innovation, qualifications and skills, infrastructures, forests, hydrogen, renewables, marine, energy independence and wind energy transition, quality and sustainability of public finances, more efficient public administration and digitalisation in schools.

If the government completes these targets, the execution of the RRP will rise to 47% of the total targets set.