Portugal applies for 3rd and 4th tranche of RRP

 In News, Portugal 2030, Portugal RRP, Portugal2020, Reforms

Portugal applied for the 3rd and 4th tranches of Recovery and Resilience Plan (RRP) funds on Thursday according to Recuperar Portugal. (Recover Portugal)

Recuperar Portugal is a Portuguese government body and programme that guides the investment plan for the PPR during the allocation of funds to 2026 and is charged with implementing a number of reforms and investments aimed at planning Portugal’s sustained post-pandemic economic growth.
A request for the disbursements was expected to be made only after the Ecofin meeting on October 13 that will give the final green light to the reformulation of the Portugal funding.
“With the application for these two payment requests, submitted simultaneously, this completes the second-half of the year payments foreseen in the plan presented to the commission consisting of four payments for 2023”, states the body led by Fernando Alfaiate.
Permission granted from the EU to rework the plan because Portugal failed to meet the allocation targets initially agreed means that Portugal will get the funding and will not have to return monies unallocated by the deadline .
To receive the €4Bn Portugal had to meet the targets and benchmarks agreed with Brussels, like, for example “reforms aimed at improving the quality and sustainability of public finances, reforms that included new mental health support laws, establishing principles related to human rights for people with mental illnesses, and reforms focusing on improving access to highly regulated professions”.
Other RRP investments have been earmarked for improving the housing market, increasing affordable student housing, affordable residential housing, temporary emergency accommodation, more charging stations for electric vehicles, and equipment for fighting forest fires, and computers for school pupils and teachers” explains the mission statement of Recuperar Portugal.
Also included in these payment requests are the pre-signed contracts made with consortia as part of the mobilising agendas for company innovation and green agendas.