Poland receives the first €1billion from SURE instrument
22:42
The European Commission has paid Poland €1 billion from the SURE instrument, which supports jobs and workers in the face of the pandemic. Italy received €10 billion and Spain €6 billion. Ultimately, under SURE, Poland will receive the aid of €11.2 billion.
Poland is the third-largest beneficiary of SURE funds, second only to Italy and Spain in this respect. Italy will receive a total of €27.4 billion and Spain €11.2 billion.
The new Temporary Support Instrument to Reduce the Risk of Emergency Unemployment (SURE) aims to protect jobs and workers affected by the coronavirus pandemic. Support under SURE is paid out in the form of loans granted on favorable terms. It is an aid to the Member States in the face of a sharp increase in public spending to maintain employment.
“Reduced working time mechanisms have played an important role in mitigating the employment impact of the Covid-19 pandemic. The SURE facility is the European Union's contribution to these necessary protective measures,” Paolo Gentiloni, EU Economy Commissioner, explained.
“SURE will help protect workers from unemployment and maintain the jobs and skills we will need in the future as our economies recover," he added.
The total value of the SURE instrument may reach €100 billion. So far, on the basis of Commission proposals, the European Council has approved the transfer of €87.9 billion to the several Member States. The next payments will take place in the coming months, after the relevant bond issues.
The SURE regulation requires EU countries to report on how they spend the borrowed funds. The EU Member States can still submit formal applications for support under this initiative.
