July 24, 2022
1 min read

13 projects for Portugal’s recovery plan signed

According to Prime Minister Antonio Costa, Portugal will receive a total of 1.6 billion euros ($1.63 billion) from the EU for the program…reports Asian Lite News

The first batch of 13 projects for the Portuguese Recovery and Resilience Plan (PRR) were signed in Lisbon to receive funds from the European Union (EU) to overcome the post-pandemic economic crisis.

The projects were selected through the program “Mobilizing Agendas for Business Innovation” in the sectors of agri-food, biotechnology, and electric mobility, reports Xinhua news agency.

According to Prime Minister Antonio Costa, Portugal will receive a total of 1.6 billion euros ($1.63 billion) from the EU for the program.

Still, there is a “possibility of adding another 2.3 billion euros” if Portugal uses loans from the EU, he said.

Costa said that the funds will be used to “structurally change the profile of the Portuguese economy”, and create “high-technology exporting sectors”.

In addition to the 13 projects financed, there are still another 38 ones that have already been selected to receive European funds in the coming months.

ALSO READ-PORTUGAL WELCOMES KENYATTA

Previous Story

Truss, Sunak vow crackdown on migration

Next Story

Zayed Charity Marathon 2022 to take place in Alexandria

Latest from -Top News

WAVES 2025: Jaishankar Advocates Cultural Pluralism

External Affairs Minister S. Jaishankar delivered a powerful address at the WAVES 2025 Global Media Dialogue, highlighting the significance of cultural pluralism in shaping global change. Speaking on the second day of

India Eyes Supply Chain Shift

India’s electronics manufacturing sector is undergoing a remarkable transformation, positioning the country as a major global hub for production and supply chain diversification. Riding on favourable government policies, geopolitical tailwinds, and a

Carney Confirms May 6 White House Visit

Canadian Prime Minister Mark Carney will travel to Washington on May 6 for a high-stakes meeting with US President Donald Trump, just days after taking office following a contentious federal election. Speaking

Rubio Backs AfD, Slams Berlin

US Secretary of State Marco Rubio has strongly criticised Germany for officially classifying the far-right Alternative for Germany (AfD) party as an extremist organisation, accusing the German government of undermining democracy under

India Bans All Pakistan Imports

In a sharp escalation of diplomatic hostilities, India has banned all direct and indirect imports from Pakistan with immediate effect, following the brutal terror attack in Jammu and Kashmir’s Pahalgam region that
Go toTop

Don't Miss

‘France not a hostage to UK’s migration policy’

The French Minister accused the UK of closing legal ways

UK-EU deal on N.Ireland protocol likely soon

As part of the Brexit deal, the Protocol stipulates that