Corporate DispatchPro

Communiqeu

The European Commission has disbursed €9 billion to seven EU Member States in the fifth instalment of financial support to Member States under the SURE instrument.

- KEITH ZAHRA

This is the second disburseme­nt in 2021. As part of today’s operations, Czechia has received €1 billion, Spain €2.87 billion, Croatia €510 million, Italy €3.87 billion, Lithuania €302 million, Malta €123 million and Slovakia €330 million. This is the first time that Czechia has received funding under the instrument. The other six EU countries have already benefitted from loans under SURE.

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. Today’s disburseme­nts follow the issuance of the fifth social bond under the EU SURE instrument, which attracted a considerab­le interest by investors.

So far, 16 Member States have received a total of €62.5 billion under the SURE instrument in back to back loans. Throughout 2021, the Commission will seek to raise in addition over €25 billion through the issuance of EU SURE bonds.

Once all SURE disburseme­nts have been completed, Czechia will have received €2 billion, Spain €21.3 billion, Croatia €1 billion, Italy €27.4 billion, Lithuania €602 million, Malta €244 million and Slovakia €631 million.

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