EU Commission approves Portugal's recovery plan

The European Commission approved on Wednesday Portugal's plan for recovery after the pandemic and transformation into a greener and more digitalised economy, the first such approval I in the 27-nation bloc. Under the scheme, Portugal will get 13.9 billion euros in grants and 2.7 billion euros in loans until 2026.

"Today, the European Commission has decided to give its green light to Portugal's 16.6 billion euro recovery and resilience plan, the first to be endorsed by the Commission," EU Commission head Ursula von der Leyen said in a statement. "The reforms and investments contained in this plan will allow Portugal to emerge from the COVID-19 crisis stronger, more resilient, and better prepared for the future," she said.

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