The Portuguese Government submitted the final review of the Recovery and Resilience Plan (PRR) to the European Commission, ensuring that all funds will be executed within European deadlines. According to a statement from the Ministry of Economy and Territorial Cohesion, the review “concentrates resources on interventions that can be completed by 2026 and that bring visible benefits to communities and companies”.
“What we present to the Commission is a responsible implementation review. PRR is to fulfill and not to promise. We are ensuring that each investment translates into results on the ground, in companies and in people’s lives”, stated the Minister of Economy and Territorial Cohesion, Castro Almeida.
The Government highlights that the review has three main objectives: to ensure that all subsidies provided for in the PRR will be fulfilled; ensure that all grants will be investedcom adjusted goals (some increased, others reduced) in order to maintain the global value unchanged; and finally, finance projects through other means with loans that cannot be completed by August 2026.
Among these projects is the Lisbon Metro red linewhose execution, worth 311 million euroswill be ensured through other loans with equivalent interest rates.
The Government emphasizes that the review simplifies the plan and reinforces the focus on results, with a PRR that is “clearer, simpler and more oriented towards competitiveness and innovation”. The minister also guarantees that the “necessary adjustments were made to ensure that everything in the Recovery and Resilience Plan will be completed successfully”.
The post Portugal submits final review of the PRR and guarantees full execution by 2026 appeared first on Veritas News.
