The European Commission has today disbursed €120 million of financial support to Malta in the form of a loan in favourable terms under the SURE instrument.
This is part of a total of €14 billion disbursed to nine EU Member States in the second installment of financial support. As part of today’s operations, Croatia has received €510 million, 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 an additional €4 billion.
This support will assist these Member States in addressing sudden increases in public expenditure to preserve employment. Specifically, they will help cover the costs directly related to the financing of national short-time work schemes, and other similar measures they have put in place as a response to the coronavirus pandemic, including for the self-employed.
At the end of October, Italy, Spain and Poland already received a total of €17 billion under the EU SURE instrument. Once all SURE disbursements have been completed to the nine countries receiving financial support today, 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.
The SURE instrument can provide up to €100 billion in financial support to all Member States. The Commission has so far proposed to make €90.3 billion in financial support available to 18 Member States. The next disbursements will take place over the course of the months ahead, following the respective bond issuances.
For more information
Factsheet: SURE – Supporting Member States to help protect people in work and jobs
Questions and answers: Commission proposes SURE
Social Bond Framework
EU as a borrower website