Under the Partnership Agreement, concluded between the Commission and Portugal, €23 billion will be made available to support the economic, social and territorial cohesion in Portugal until the end of the decade.
Article continues below
These funds will help develop a more diversified, innovative and competitive economy, with a strong focus on the green and digital transition of the country, in line with key EU priorities.
The funds will also promote balanced territorial development between different regions and between rural and urban areas, notably to ensure a better access to essential services.
With €11.5 billion the European Regional and Development Fund (ERDF) will boost the competitiveness of the Portuguese regions.
From this amount, €5.3 billion will strengthen the research and innovation ecosystem, the digitalisation of small and medium businesses, and bring fast broadband connection across the territory.
ERDF funds will also modernise the local and regional administration to improve access to public services via digital means.
The ERDF, the Cohesion Fund and the European Maritime, Fisheries and Aquaculture Fund (EMFAF) will dedicate €5.5 billion to the implementation of the European Green Deal by developing a circular and sustainable economy and an environmentally friendly transport system and preserving the biodiversity.
With €224 million the Just Transition Fund (JTF) will help the Portuguese territories most affected by the climate transition to cope with its social and economic negative impacts, to diversify their economies and create new employment opportunities and skills development.
The European Social Fund Plus (ESF+) will invest €7.8 billion to improve access to the labour market, in particular through measures combining social and employment support and work experience, up and re-skilling, quality education, vocational training and career guidance.
The fight against poverty and social exclusion will also be supported, in particular through food and material assistance, including for children, thereby contributing to implement the European Child Guarantee.
The EU will invest more than €1.9 billion in the outermost regions (Açores and Madeira). From this amount, more than €200 million will be used to improve the connectivity of the islands (transport services) and the transport infrastructure (ports, airports and urban mobility).
The ESF+, in particular, will reduce territorial disparities in access to healthcare, education and social services.
Around €400 million from the EMFAF will facilitate the ecological transition of the fishing and aquaculture sectors of Portugal, as well as the blue economy.
The funding will help bringing seafood and aquaculture products in line with the expectations of consumers to have sustainable food choices, sustain small-scale coastal fishing, improve the sector's resilience and boost take-up of innovative solutions to the challenges of today.
The 2021-2027 Partnership Agreement with Portugal is the 14th to be adopted following those of Greece, Germany, Austria, Czechia, Lithuania, Finland, Denmark, France, Sweden, the Netherlands, Poland, Bulgaria and Cyprus. ■