15 EU countries set to receive 81.4 bln euros for saving jobs during COVID-19

The European Commission on Monday presented proposals to the Council of the European Union (EU) to grant 81.4 billion euros (96 billion U.S. dollars) to 15 EU member states to help them mitigate the effects which the COVID-19 pandemic has had on employment.

As planned, the countries will be receiving assistance through the instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE), designed to help protect people in work and jobs affected by the coronavirus pandemic.

“Just four months after I proposed its creation, the Commission is proposing to provide 81.4 billion euros under the SURE instrument to help protect jobs and workers affected by the coronavirus pandemic across the EU,” said European Commission President Ursula von der Leyen.

Once the EU Council approves the proposals, the financial support will be provided in the form of loans granted on favorable terms from the EU to member states.

Loans will be underpinned by a system of voluntary guarantees from member states, the Commission said.