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Parliament has ratified the agreement on the European SURE instrument


Bulgaria can withdraw a loan of over BGN 1 billion by 2022, after parliament finally ratifies the voluntary guarantee agreement under the EU's SURE regulation, which aims to protect jobs and workers from the negative effects of the coronavirus pandemic.


The total budget is 100 billion euros. The financial assistance is granted in the form of a loan with a limited duration until the end of 2022.

The European Commission will raise funds from financial markets to subsequently make them available to Member States.

 

With the voluntary guarantee agreement, Bulgaria undertakes to provide irrevocable and unconditional guarantees of BGN 210 million upon request.

 

In August, the European Commission presented to the Council its proposals to provide € 87 billion in financial support to 16 Member States under the SURE instrument, including Bulgaria.

 

MRF MP Hassan Ademov explained the principle of financial support.

 

"To be prepared for measures to help preserve employment, because it is expected that the number of unemployed will be sufficiently increased in the autumn/winter, unemployment is expected to be around 300 000 people, so this additional financial instrument will give the opportunity to have additional financial resource as early as the end of the year ", he told BNR.

According to the EC proposal, financial support of EUR 511 million will be presented to Bulgaria.

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