Portugal receives 23 bln euros from EU for economic, social development

LISBON, July 14 (Xinhua) -- The European Commission (EC) on Thursday signed an agreement with Portugal providing 23 billion euros' (23.02 billion U.S. dollars) financing for implementing the Portugal 2030 program.

The funding will be used to "support economic, social and territorial cohesion projects to develop a more diversified, innovative and competitive economy," said the EC in a statement.

Emphasis will be placed on the "ecological and digital transition of the country, promoting balanced territorial development between different regions and between rural and urban areas, namely with regard to better access to essential services," said the statement.

European Commissioner for Cohesion and Reforms Elisa Ferreira said, "the partnership agreement with Portugal establishes a strategic commitment to relaunch growth in a more inclusive, sustainable and digital way."

Portuguese Prime Minister Antonio Costa hailed the agreement, with "clear objectives and concrete goals, a strategic vision and resources for its implementation," as a "huge opportunity for Portugal."

"With people first, we want to reach the forefront, with a more inclusive and less unequal society, with quality jobs, in a more competitive and innovative, greener and more digital country," Costa tweeted.