The Council of the European Union said at the end of last week it "approved EUR 87.4 billion of financial support to 16 member states in the form of EU loans under SURE – a temporary EU instrument to mitigate unemployment risks during the COVID-19 crisis."
Of this, Poland is expected to receive EUR 11.2 billion, the third-highest amount among member states, after Italy’s EUR 27.4 billion and Spain’s EUR 21.3 billion, Poland’s PAP news agency reported.
The EU Council, which represents EU governments, said that the support would "help the member states finance the severe increase in public expenditure incurred as of 1 February 2020 as a result of the use of national short-time work schemes and similar measures, including for self-employed persons, and some health-related measures in response to the pandemic."
The European Commission, which proposed the plan last month, said that the financial support, once approved by the EU Council, would be provided in the form of loans granted to member states on favourable terms.
The EU executive also said at the time that the loans were intended to assist member states in addressing sudden increases in public expenditure to preserve employment.
Loans provided to EU countries under the SURE instrument will be underpinned by a system of voluntary guarantees from member states, the Commission said on its ec.europa.eu website in late August.
Its head Ursula von der Leyen was quoted as saying at the time: "We must do everything in our power to preserve jobs and livelihoods.”
The SURE instrument is a crucial element of the EU's comprehensive strategy to protect citizens and mitigate the socioeconomic consequences of the coronavirus pandemic, according to the European Commission.
The Council of the European Union, also known as the EU Council, is an institution representing the governments of EU member states.
(gs/pk)
Source: PAP, consilium.europa.eu