January 27, 2023


Complete Canadian News World

The European Commission paid Poland a €1.5 billion loan under the SURE instrument

The European Commission paid Poland a €1.5 billion loan under the SURE instrument

In total, nine countries have received €6.5 billion in support.

After today’s operations, Bulgaria received 460 million euros, Cyprus 29 million euros, the Czech Republic 2.5 billion euros, Greece 900 million euros, Croatia 550 million euros, Lithuania 142 million euros, Latvia 167 million euros, Poland – 1.5 billion euros, and Portugal – 300 million euros, the nine member states have already received financial support from SURE in the past.

The Commission has disbursed more than €6.5 billion to nine member states in the latest SURE deal. Including today’s latest payment, 19 member states have received a total of €98.4 billion from SURE.

The purpose of the loan

The loans disbursed will be used to finance previous expenditures incurred in dealing with the severe social and economic impact of the COVID-19 crisis. The commission said it would help member states cover costs associated with financing short-time national action plans and other similar measures, including for the self-employed, as well as some health measures.

The Commission SURE report shows that around 31.5 million people and 2.5 million companies were supported under the facility in 2020, and 9 million people and more than 800,000 companies in 2021.

SURE availability ends December 31, 2022.

Today’s payments were funded last week by €6,548m of confirmed 15-year EU bonds.

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