Portugal’s European Commission signs loan agreement for economic recovery

Lisbon, July 26 (Xinhua) – Portugal on Monday signed an agreement with the European Commission on the financing and financing of the European Post-Pandemic Economic Recovery Fund.

Planning Minister Nelson de Souza said at the signing ceremony here that the Commission hopes to transfer the first initial loan totaling 2.1 billion euros ($ 2.48 billion) “in the next days “. Declared.

“We always aim to be at the forefront of this crucial process of recovery from a pandemic crisis,” said the Minister.

Portuguese Treasury Minister João Leão, who attended the signing ceremony, said the deal was “a very important step for the country’s future” and that the government is now “planning”.

According to him, Portugal “has promised to act” and “is taking tireless measures for the recovery and the future of the country to create projects that go far beyond the immediate response to the crisis. There are. “

On July 13, the Commission approved Portugal’s € 16.6 billion Recovery and Resilience Plan (PRR) from 2021 to 2026. Of this total, € 13.9 billion are non-reimbursable grants and 2.7 billion euros are loans on accelerated terms. (1 euro = 1.18 US dollars)

Portugal’s European Commission signs loan agreement for economic recovery

Source link Portugal’s European Commission signs loan agreement for economic recovery


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