The European Commission announced that it had paid Poland EUR 1 billion to help protect jobs and maintain employment. Brussels also directed funds to Italy and Spain, countries hardest hit by the coronavirus crisis.
“Poland received today one billion euros in loan thanks to the support of the SURE instrument to protect jobs and workers in these difficult times. This is just the beginning, Poland will receive a total of EUR 11.2 billion from SURE, including for financing the mechanisms of reducing working time “- wrote the head of the European Commission Ursula von der Leyen on Twitter.
The EC paid a total of EUR 17 billion to Italy, Spain and Poland in the first part of financial support for these member states. “Italy received EUR 10 billion, Spain EUR 6 billion and Poland EUR 1 billion ” – the spokesman of the European Commission, Balazs Ujvari, announced at a press conference in Brussels.
In total, EUR 11.2 billion will go to Poland
The total amount of all disbursements from the SURE instrument, which was designed to help EU countries maintain jobs, will be EUR 27.4 billion for Italy, EUR 21.3 billion for Spain and EUR 11.2 billion for Poland.
These measures are intended to cover the costs directly related to the financing of national reduced working time mechanisms and other similar measures put in place by Member States in response to the coronavirus pandemic. Self-employed persons will also get help.
Overall, the SURE facility can provide financial support of up to € 100 billion to all Member States. So far, on the basis of Commission proposals, the Council has authorized € 87.9 billion in support to be provided to 17 Member States. The next payments will take place in the coming months, after the relevant bond issues.
The payouts follow the first social bond issue that the Commission made last week. This offer met with great interest from investors.
You can still apply for program support
SURE Regulation obliges EU countries to report on how they spend borrowed funds.
Member States can still make formal applications for support under the program, which has funding of up to € 100 billion to help protect jobs and workers affected by the pandemic. Poland is the third largest recipient of funds from this instrument after Italy and Spain
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