The European Commission has disbursed € 14 billion to Member States under the second disbursement of financial assistance from the SURE instrument. As part of the disbursement, on Tuesday (November 17th), Croatia received 510 million euros, Cyprus 250 million, Greece 2 billion, Italy an additional 6.5 billion, Latvia 120 million, Lithuania 300 million, Malta 120 million, Slovenia 200 million and Spain additional 4 billion euros.
This support, in the form of soft loans, will help Member States to cover sudden increases in public expenditure to protect jobs. In particular, the funds will cover the costs associated with the financing of national part-time programs and other similar measures introduced in response to the coronavirus pandemic, including for the self-employed.
At the end of October, Italy, Spain and Poland had already received a total of € 17 billion under the SURE instrument. After disbursement of all funds, Croatia will receive 1 billion, Cyprus 479 million, Greece 2.7 billion, Italy 27.4 billion, Latvia 192 million, Lithuania 602 million, Malta 244 million, Slovenia 1.1 billion and Spain 21.3 billion euros .
The payment followed the second issue of social bonds under the EU SURE instrument, which was marked by great investor interest. The SURE instrument can provide financial support of up to € 100 billion for all Member States. The Commission has so far proposed making € 90.3 billion in aid available for 18 Member States. Subsequent payments will be made in the coming months, following the issuance of the bonds. More information is available at link