Financial and business news from Bulgaria

European Commission allocates €511 million for Bulgaria under SURE

The European Commission has allocated €14,137 billion to 12 EU Member States under the seventh tranche of financial support under the SURE instrument. As part of today's operations Belgium received €2 billion, Bulgaria 511 million euros, Cyprus €124 million, Greece €2.54 billion, Spain €3.37 billion, Italy €751 million, Lithuania €355 million, Latvia €113 million, Malta €177 million, Poland 1.56 EUR 2.41 billion, Portugal €2.41 billion and Estonia €230 million.
For the first time Bulgaria and Estonia receive funding under the SURE instrument. The other ten EU countries have already benefited from loans under this instrument, the European Commission press office said.

This SURE support will help Member States cope with sudden increases in public spending aimed at maintaining employment in connection with the coronavirus pandemic. In particular, it will help Member States to cover the costs directly related to the financing of national schemes for reduced working hours and other similar measures introduced in response to the pandemic, including in respect of the self-employed.

Today's payments are a consequence of the seventh issue of social bonds under the SURE instrument, which has attracted considerable interest from investors in recent days in difficult market conditions.