Summary:
€22.2 billion total allocation for PRR remains unchanged
Funding for Violet Line of Lisbon Metro and other key projects shifts to alternative sources
€336 million increase for healthcare equipment
€110 million for university modernization
New €230 million fund to support business innovation
The total allocation for the Recovery and Resilience Plan (PRR) remains at €22.2 billion. However, funding for key projects such as the Violet Line of Lisbon Metro, part of the Red Line expansion, the Pisão Dam, the Pomarão Dam, and the Algarve Desalination Plant will now be sourced from alternative financing.
The Portuguese government has submitted a request to the European Commission for a reprogramming of the PRR, as announced by the office of the Minister for Cohesion and Territorial Development. The aim is to ensure that investments adapt to required timelines, minimizing the risk of non-compliance that could lead to the loss of funding. This revision allows for the replacement of unfeasible projects within the set calendar, ensuring their execution through other funding sources while enhancing the efficiency and impact of the available funds.
The total PRR allocation remains unchanged, with a significant boost in areas such as health, science, and business innovation.
What Changes Are Being Made in the PRR?
- Health: An increase of €336 million for acquiring equipment for Local Health Units (ULS), modernizing infrastructure and improving access to healthcare.
- Science and Higher Education: An additional investment of €110 million for equipment acquisition and technological modernization of universities, enhancing the country's scientific and research capacity.
- Business Innovation: Creation of a new financial instrument amounting to about €230 million to support innovation, research, and growth of national companies, fostering competitiveness and economic development.
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