Brussels: Today, the European Commission positively assessed Portugal's eighth payment request for £1.1 billion, comprising £828.8 million in grants and £286 million in loans, under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU.
According to Cyprus News Agency, this approval marks a significant step in implementing reforms and investments related to digitalisation in healthcare, education, renewable energy, budget management, and the decarbonisation of industry. The measures also aim to modernise public financial management, improve tax efficiency, enhance the justice system's performance, and monitor energy poverty.
The Commission has forwarded its preliminary assessment of Portugal's fulfillment of the milestones and targets required for this payment to the Economic and Financial Committee (EFC), which has four weeks to deliver its opinion. The payment to Portugal can proceed following the EFC's opinion and the adoption of a payment decision by the Commission.