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EC grants 14 billion euros to nine EU countries under the SURE programme

The European Commission allocated €14 billion to nine EU countries in the second tranche of SURE's financial support to Member States. As part of today's operations, Croatia received 510m euros, Cyprus 250 million euros, Greece 2 billion euros, Italy 6.5 billion euros, Latvia 120 million euros, Lithuania 300 million euros, Malta 120 million euros, Slovenia 200 million euros and Spain an additional 4 billion euros, said the press centre of The European Commission.
Today's payment is made after the second issue of social bonds within the EU's SURE instrument, marked by very strong investor interest.

This support, in the form of favourable loans, will help these countries cope with the sudden increase in public spending aimed at preserving employment. In particular, they will be helped to cover the costs directly related to the financing of national part-time working regimes and other similar measures they have introduced in response to the coronavirus pandemic, including in respect of self-employed persons.

At the end of October, Italy, Spain and Poland already received a total of €17 billion under the EU SURE instrument. Once all SURE sums are allocated to the nine countries receiving financial support today, Croatia will have received €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 financial support of up to EUR 100 billion for all Member States. So far, the Commission has proposed providing financial support of EUR 90.3 billion to 18 Member States. Subsequent payouts will be made in the coming months following relevant bond issues.