Regional Government revises RRP for simplification and ensures continuity of investments - Communication

Secretaria Regional das Finanças, Planeamento e Administração Pública

The Regional Government, through the Regional Secretariat for Finance, Planning and Public Administration, has completed the revision process to simplify the Region's investments under the Recovery and Resilience Plan (RRP), in full alignment with the national strategy and the European Commission's guidelines.

According to the Regional Secretary in charge, Duarte Freitas, "this update, submitted to the European Commission by Portugal on October 31, aims to strengthen the implementation of projects, optimise the use of available funds and ensure that the Azores continue to meet the goals of climate transition, digital transformation, and economic and social resilience."

The adjustments now made reflect responsible and efficient resource management, ensuring that no strategic investment is lost, since all initiatives that are not implemented under the RRP will be financed by other Community or regional sources.

The adjustments made include the investment "Modernisation and Improvement of the Regional Health Service" (C01-i11-RAA), some measures such as the renovation of the São Roque do Pico Health Centre, the acquisition of electric vehicles and medical equipment, and the creation of vacancies in long-term care that will not be implemented under the RRP, with the respective budget of €8.49 million being reallocated to the refurbishment and expansion of the Horta Hospital.

In the investment "Recapitalisation of the Azores Business System" (C05-i04-RAA), totalling €125 million, the following specifications were made: €45 million for CPA 1, €2.4 million for risk capital instruments and €40 million for a new financial instrument to support business investment, as recently authorised by the European Commission, the IFIC.

The adjustments now submitted to the European Commission aim to ensure the maximisation of the funds available without compromising regional projects.

The Regional Government will continue to closely monitor the implementation of the projects, ensuring transparency, effectiveness and a positive impact on the lives of regional families and businesses.