EC proposes €511m for Bulgaria to mitigate post-pandemic employment risks

Bulgaria is to receive €511m in EU funding to cushion the severe socio-economic impact of the coronavirus pandemic. The financial support package, proposed by the EC on Monday for approval by the Council, totals €81.4b and will benefit 15 Member States.

The aid comes under the €100b euro European instrument for temporary support to mitigate unemployment risks in an emergency (SURE) following the COVID-19 outbreak.
Once the Council approves these proposals, the EU will extend the financial support in the form of soft loans underpinned by a system of voluntary guarantees from Member States. The funding will help cover the costs directly related to the financing of national short-time work schemes and other similar measures put in place as a response to the coronavirus pandemic, in particular for the self-employed.
The Commission expects Member States to complete very shortly the process of finalizing their guarantee agreements with it.

Similar articles