The European Commission Has Offered Bulgaria EUR 511million in Financial Support to Combat Unemployment
The European Commission has presented to the Council of the EU proposals for decisions to provide financial support amounting to EUR 81.4 billion to 15 Member States under the SURE instrument. The SURE instrument is part of the Alliance's overall strategy to protect citizens and mitigate the severe socio-economic consequences of the COVID-19 pandemic. This is one of the three security networks approved by the European Council for the Protection of Workers, Enterprises and Countries, according to the European Commission Representation in Bulgaria.
Once the Council has approved these proposals, financial support will be provided in the form of loans granted under favorable terms by the European Union to the Member States, to cope with sudden increases in public spending to maintain employment.
The loans will help the countries concerned to cover their costs directly related to the financing of national part-time work regimes and other similar measures introduced in response to the coronavirus pandemic, in particular for the self-employed. After consulting the Member States requesting support and assessing their applications, the Commission proposes that the Council approve the provision of financial support for:
- Belgium - EUR 7.8 billion;
- Bulgaria - EUR 511 million;
- Czech Republic - 2 billion euros;
- Greece - 2.7 billion euros;
- Spain - EUR 21.3 billion;
- Croatia - EUR 1 billion;
- Italy - 27.4 billion euros;
- Cyprus - EUR 479 million;
- Latvia - EUR 192 million;
- Lithuania - EUR 602 million;
- Malta - EUR 244 million;
- Poland - 11.2 billion euros;
- Romania - EUR 4 billion;
- Slovakia - EUR 631 million;
- Slovenia 1.1 billion euros.
Portugal and Hungary have already submitted official applications, which are currently being evaluated.
The Member States that have not yet submitted formal applications can still do so. Lending under the SURE instrument will be supported by a system of voluntary guarantees by the Member States.