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Add to Preferred SourcesThe European Commission has disbursed €14 billion to nine Member States in the fourth installment of financial support to Member States under the SURE instrument. This is the first disbursement in 2021.
As part of the operations, Belgium has received €2 billion, Cyprus €229 million, Hungary €304 million, Latvia €72 million, Poland €4.28 billion, Slovenia €913 million, Spain €1.03 billion, Greece €728 million, and Italy €4.45 billion. All nine Member States had already received financial support under SURE in 2020, under one of the first three issuances and disbursement operations that took place in 2020.
SURE and the European solidarity it represents are key in this pandemic.
We pay out a further €14 billion to support workers in nine hard-hit EU countries under the SURE instrument.#StrongerTogether
— European Commission ?? (@EU_Commission) February 2, 2021
President Ursula von der Leyen said: “Under the SURE programme, the EU has mobilised up to €100 billion in loans for EU Member States to save jobs and keep people in work. The funds are regularly making their way to our Member States, helping them financially to mitigate the impact of the coronavirus pandemic.”
These loans will assist Member States in addressing sudden increases in public expenditure to preserve employment. Specifically, they will help Member States cover the costs directly related to the financing of national short-time work schemes, and other similar measures that they have put in place as a response to the coronavirus pandemic, including for the self-employed. These disbursements follow the issuance of the fourth social bond under the EU SURE instrument, which attracted considerable interest by investors. The notable oversubscription was translated into favourable pricing terms, which the Commission is directly passing on to the benefitting Member States.
Following these disbursements, 15 Member States have received a total of €53.5 billion under the SURE instrument. Once all SURE disbursements have been completed, Belgium will have received €7.8 billion, Cyprus €479 million, Hungary €504 million, Latvia €192 million, Poland €11.2 billion, Slovenia €1.1 billion, Spain €21.3 billion, Greece €2.7 billion and Italy €27.4 billion.