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5/25, 2:07 PM (Source: TeleTrader)
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EU issues €14.1B from SURE fund to 12 members

The European Commission paid out on Tuesday €14.1 billion to 12 of the European Union's member states under its Support to Mitigate Unemployment Risks in an Emergency (SURE) to help them in "addressing sudden increases in public expenditure to preserve employment following the coronavirus pandemic."

The countries that received the funds are Belgium, Bulgaria, Cyprus, Greece, Spain, Italy, Lithuania, Latvia, Malta, Poland, Portugal, and Estonia. This disbursement marks the seventh bond the commission issued under the aforementioned instrument.

"SURE is a European success story and has benefitted up to a total of 30 million workers and 2.5 million firms so far. It will also help them recover faster from the pandemic. With the SURE program, the EU has already provided a total of around €90 billion to 19 member states," European Commission President Ursula von der Leyen noted.

Breaking the News / JR