Portugal’s Recovery and Resilience plan has paid out €7.4Bn to date

Around €7.4Bn from the European funding of grants and loans that make up the country’s Recovery and Resilience Plan has been paid out to its beneficiaries to date.

The figure represents 34% of the total amount granted and contracted and 35% of approved funding according to the latest monitoring report.

Companies so far had received €2.6Bn, while public entities had got €1.6Bn. Municipal and metropolitan authorities had received €932 million while public companies had netted €805 million, schools €538 million, higher education establishments €291 million, and families €238 million.

So far, a total of €7.4Bn has been disbursed from the RRP funds or 35% of the total contracted.

Up until last week the RRP had received a total of 369,278 applications for funding with 233,133 approved.

The RRP has to have all funding applied by 2026 for a raft of reforms and investments aimed at recovering Portugal’s economic growth following the Covid-19 pandemic crisis.