EU disburses €14bn SURE cash to nine countries

The European Commission said it has disbursed €14 billion to nine member states in the fourth instalment of financial support to EU countries under the SURE instrument.

The instrument is for temporary Support to mitigate Unemployment Risks in an Emergency (SURE).

This is the first disbursement of 2021.

Following the latest disbursements, 15 member states have received a total of €53.5 billion so far under SURE.

About €90.3 billion has been authorised so far for 18 member states under SURE — which has an overall firepower of up to €100 billion.

“As part of today’s 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,” said the Commission.

“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.

“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.”

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.

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