Coimbra University dean says Portugal “spending not investing” EU bazooka funds

The Dean of the University of Coimbra says that an important chunk of EU money in Portugal’s Recovery and Resilience Fund is being “spent and not invested”.

“Portugal should use the funding from the Recovery and Resilience Fund well by not spending the money but investing it” said Amílcar Falcão in an interview podcast with the online news source ECO.

The dean’s main area of concern is infrastructures because prices have soared so much. “I think there is some speculation here and taking advantage of the situation is not very dignified for the country and for those responsible”, he said.

Amílcar Falcão warned that part of the €22.2Bn (RRP and Portugal 2030) would be “spent and not invested”. “I have not doubt about this”.

“Everything that involves infrastructure. Everything that happened in terms of works has been absolutely surreal. The financial package for the five residences of the University of Coimbra was around €11 million. But in public tenders, we have already put in €18 million because if we hadn’t done it we would never have carried out the work. I don’t know if the RRP will make up this €7 million shortfall. I think it was fair. But whether it is given or not, the University will, in any case, invest and finish the work”, he said.

“In my view, as much as they want to convince me of the labour costs and the war and the (rising cost of) materials and all that, I think there is some speculation here in the middle, and the situation is being exploited in a way that is not very dignifying for the country and for those who have been doing it”.

Instead, he thinks there should be other options such as buying scientific equipment for universities, but adds that the €110 million currently earmarked for this is clearly not enough with Coimbra University alone needing some €50 million.

Amílcar Falcão also warned that he did not think that Brussels would made the deadlines to carry out projects more flexible since the EU needed the money for defence and that by 2026 there would be a reprogramming of the EU restructuring funds.

Regarding Portugal 2030, the dean says he is worried at the execution rate of funds and has criticised the inflexibility of the new sampled costs methodology.

“When I understand that I don’t have the capacity to do it (execute a project), I warn the management unit and say: ‘we won’t be able to execute’. But I would warn in time, because the money should not be lost.

If someone can’t do it, I think they should say so in good time. If there’s someone who can, great. Especially because this money has costs. The RRP is not given and so Portugal must take advantage, but it must take advantage of it well and making good use of it is not spending money, it is investing”, he said.