LISBON, 17 June, 2021 (TON): Ursula von der Leyen, President European Commission (EC) announced approval of Portuguese Recovery and Resilience Plan ((PRR) that intends to transform the economic situation in the country.
After meeting with the PM Antonio Costa on Wednesday, von der Leyen said, "Today I am very happy to announce that the EC has decided to give the 'green light' to the Portuguese recovery plan, after excellent cooperation with the Portuguese authorities."
According to the media, the Portuguese recovery plan was the first to be approved among the 27 member states of the European Union (EU), foreseeing projects worth 16 billion euros ($19 billion).
"The planned reforms and investments will make Portugal come out of this crisis stronger and more resilient," she said.
However, as per the requirements of the EC, the Portuguese plan clearly meets the demanding criteria, the President stressed.