Portugal has completed all 44 reforms required under its EU-backed recovery plan, putting it in line to receive the full €16.3 billion in available grants. The funding will support projects spanning healthcare, housing, education, energy and digital transformation.
Portugal has completed all 44 reforms required under its post-pandemic recovery plan, allowing the country to qualify for €16.3 billion ($18.98 billion) in European Union grants, Economy Minister Manuel Castro Almeida said on Friday.
Portugal was allocated €21.9 billion under the EU's €750 billion NextGenerationEU recovery programme, comprising €16.3 billion in grants and €5.6 billion in loans. The country's plan covers 117 investment streams and 44 reforms.
The reforms span areas including housing, healthcare, education, public administration, energy and digital transformation. The European Commission says the programme is designed to strengthen Portugal's resilience, productivity and long-term growth.
Castro Almeida said Portugal had fully implemented the planned reforms and met the milestones and targets required to secure the full grant allocation.
The EU funds are expected to finance projects aimed at improving infrastructure and economic competitiveness. The European Commission's programme includes investments in healthcare, social housing, research and innovation, employment, renewable energy and the digitalisation of public services and businesses.
Portugal has already received substantial funding through the programme. In August, the European Commission said it had disbursed €2.32 billion to Portugal under the ninth payment, supporting measures including digitalisation, education, business simplification, waste management and the circular economy.
Projects that were unlikely to meet the programme's deadline were removed or replaced, with some expected to receive financing through other EU programmes, the European Investment Bank or Portugal's state budget.
The completion of the reforms gives Portugal an important source of non-repayable EU funding as it continues to invest in productivity, infrastructure and economic modernisation.
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