The European Commission has disbursed another €13 billion to six EU Member States under the SURE instrument, making it the third disbursement of this year. Under the instrument, Czechia has received €1 billion, Belgium €2.2 billion, Spain €4.06 billion, Ireland €2.47 billion, Italy €1.87 billion and Poland €1.4 billion. So far, 17 EU Member States have received a total sum of €75,5 billion under the SURE instrument in back-to-back loans.

Overall, the Commission has proposed that 19 EU Member States will receive €94.3 billion in financial support. Countries can still submit requests to receive financial support under SURE, which has a total budget of €100 billion.

About the SURE instrument

The SURE instrument is a European tool that mobilizes significant financial means to fight the negative economic and social consequences of the coronavirus outbreak and its effects on European countries. The instrument is capable to provide financial assistance up to €100 billion in the form of loans from the European Union to suffering Member States which can then be compensated for their sudden increase in public expenditure for the preservation of employment.

Loans provided to Member States under the SURE instrument are supported by a system of voluntary guarantees. Each Member State’s contribution to the overall amount of the guarantee corresponds to its relative share in the total gross national income (GNI) of the European Union, based on the 2020 EU budget.

President of the Commission, Ursula von der Leyen said: “The crisis is tough on many workers, who fear for their jobs. This is why we have created SURE, to mobilise €100 billion in loans to finance short-time work schemes across the EU. Today we are disbursing a new tranche of €13 billion under SURE, supporting workers and companies in six Member States. This helps protect jobs and enables economies to recover faster from the crisis.”

B2EU Consulting can help private or public actors to gain access to means of financial or legislative support. Our boutique consulting firm is specialized in European funds and can assist industries on positioning itself favorably for financial support and a smooth transaction to a greener and more digital future.

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