EC provides €9bn under SURE to seven member states

By bne IntelliNews March 16, 2021

The European Commission said on March 16 it is providing €9bn to seven member states under the SURE instrument to help them retain jobs amid the coronacrisis.

This is the fifth tranche of financial support under the instrument.

Of the total sum, Croatia receives €510mn, Czechia €1bn, Spain €2.87bn, Italy €3.87bn, Lithuania €302mn, Malta €123mn and Slovakia €330mn.

“These loans will assist member states in addressing sudden increases in public expenditure to preserve employment,” the EC said in the statement.

The countries will use the funds to cover the costs directly related to the financing of national short-time work schemes, as well as other measures they have adopted to respond to the economic crisis caused by the coronavirus (COVID-19) pandemic.

So far, 16 EU member states have received €62.5bn under the SURE instrument in back-to-back loans.

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