Decree nº 193/2021: Guidelines regarding financial circuit applicable to financial support to the Recovery and Resilience Plan
Legal alert no. 167
Decree no. 193/2021 was published on 15 September and establishes the guidelines regarding the financial circuit applicable to the financial support of the Recovery and Resiliency Plan.
Decree no. 193/2021 determines that the funding of projects on a loan basis approved within the framework of the Recovery and Resiliency Plan constitute funding from the State Budget (“Orçamento do Estado”) originated in European Funds and are made available to the General Direction of Treasury and Finance (“Direção-Geral do Tesouro e das Finanças”) in a specific bank account at the Treasury and Public Debt Management Agency (“Agência de Gestão da Tesouraria e da Dívida Pública, E.P.E.”). The minister of finance, in coordination with the minister for the planning, ensures the framework of this funding in the proposal for the State Budget.
Decree no. 193/2021 establishes as a general rule that the investments funded by way of loans from the EU are subject to contracts entered into between the Mission Structure “Recuperar Portugal” and the direct beneficiaries, or between the Mission Structure “Recuperar Portugal” and intermediaries, and between these and the final beneficiaries. It also determines that the General Direction of Treasury and Finance makes the funding available through loan contracts that shall be fully compatible with the payment of the debt service and the repayment schedule contracted by the Portuguese State with the EU.
As an exception to this rule, Decree no. 193/2021 determines that the operations foreseen in the Recovery and Resiliency Plan destined to the accommodation of university students are subject to specific conditions that shall be established by the government representatives responsible for the areas of finance and planning.
Decree no. 193/2021 came into force the day after its publication.
To access to the entire wording of Decree no. 193/2021, link