The President of the European Commission will give the green light to the recovery plan in Portugal on Wednesday. Funding is expected to be approved shortly thereafter.
The President of the European Commission will visit Portugal next Wednesday, June 16, to provide a “green light” for the Recovery and Rehabilitation Program (PRR), which allows the use of funds from the so-called European “bazooka”.
A spokesperson for the community executive announced the news on Friday. “I can announce that President Von der Lein will visit some member states within the framework of the European Recovery and Recovery Mechanism/Next Generation EU and National Plan Evaluation. She will travel to Portugal and Spain on June 16th, to Greece and June 17th In Denmark, on June 18th in Luxembourg,” Dana Spinant said.
president @冯德莱恩 Several EU countries will be visited next week:
-European Commission (@EU_Commission) June 11, 2021
Portugal is the first member country to formally submit its recovery and recovery plan to Brussels in April. It is expected that the plan will be the first batch of plans approved by the Commission and approved by the Council of Ministers of Finance (Ecofin) of the European Union. The end of the month.
The Portuguese plan is estimated to be worth 16.6 billion euros, of which 13.9 billion euros are non-repayable grants.
On June 1, once the 27 member states approve the process of their own resource decisions-which is an indispensable condition for Brussels to issue debt to the market to finance the recovery plan-once completed, the European Commission announced that it will issue about 80 billion Euro long-term bonds, this is the first financing operation to support the recovery of the European economy after the pandemic crisis.