Portugal Recovery & Resilience Plan
The RRP - Recovery and Resilience Plan, is a strategic document prepared by the Portuguese Government that presents all structural reforms defined for the exit of the pandemic crisis, aligned with the recovery and resilience mechanism of the European Commission "Next Generation EU". With the aim of gathering improvements and obtaining the greatest possible consensus, the RRP has incorporated new contributions and is submitted for public opinion until 1 March.
The PRR has a total financial envelope of EUR 16 643 million (M€), composed of €13,944 M in grants and €2,699 m in loans, the PRR is based on three main thematic areas: resilience (61%), climate transition (21%) and digital transition (18%). Each of them is composed of several components, subdivided into reforms that, in turn, are embodied through projects.
Resilience, the most cross-cutting area, connects and contributes to the achievement of the investment targets proposed by the European Commission in the six relevant EU Policy Pillars: green transition; digital transformation, growth, smart and inclusive; social and territorial cohesion; economic, social and institutional resilience, and policies for the next generation.
The Climate Transition, with an ambitious sustainability agenda, changes the panorama of mobility, decarbonisation, bioeconomy and energy efficiency, accelerating the transition to the use of clean, renewable energies, developing the circular economy and changing the mobility paradigm, considering the need to preserve the future of new generations.
The Digital Transition area contemplates the importance of investment in people and training as engines for the development of an economy increasingly based on the digital, a structural pillar of the country, now even more evidenced by the pandemic.
Remember that it was on 11 February that the Council adopted the regulation that creates the Recovery and Resilience Mechanism, of 672.5 billion euros and that is at the heart of the extraordinary recovery effort of the EU, the Next Generation EU - the 750 billion euros plan decided in July 2020.