EU Commission proposes €244 million in financial support for Malta

Tista' taqra bil- Malti.

The European Commission has presented proposals to the Council for decisions to grant financial support of €81.4 billion to 15 Member States under the SURE instrument through which Malta can benefit from €244 million.

SURE is a crucial element of the EU’s comprehensive strategy to protect citizens and mitigate the severely negative socio-economic consequences of the coronavirus pandemic. It can provide financial support of up to €100 billion in total to all Member States.

It is one of the three safety nets agreed by the European Council to shield workers, businesses and countries.

Once the Council approves these proposals, the financial support will be provided in the form of loans granted on favourable terms from the EU to Member States.

These loans will assist Member States in addressing sudden increases in public expenditure to preserve employment. Specifically, they will help Member States to cover the costs directly related to the financing of national short-time work schemes, and other similar measures they have put in place as a response to the coronavirus pandemic, in particular for the self-employed.

Following consultations with the Member States that have requested support and after assessing their requests, the Commission proposes to the Council to approve the granting of financial support to:

  • Belgium €7.8 billion
  • Bulgaria €511 million
  • Czechia €2 billion
  • Greece €2.7 billion
  • Spain €21.3 billion
  • Croatia €1 billion
  • Italy €27.4 billion
  • Cyprus €479 million
  • Latvia €192 million
  • Lithuania €602 million
  • Malta €244 million
  • Poland €11.2 billion
  • Romania €4 billion
  • Slovakia €631 million
  • Slovenia €1.1 billion

Portugal and Hungary have already submitted formal requests which are being assessed. The Commission expects to put forward a proposal to grant support to Portugal and Hungary shortly.

Member States which have not yet made formal requests may still do so.