Nine Member States Receive € 14bn in Loans to Overcome Covid-19 Spending
The subscription by the European Commission of these two bonds on January 27, 2021 aroused “considerable investor interest”, as the EU points out, and was carried out at favorable price conditions. The first 7-year € 10bn bond was raised at a negative rate of -0.497% and the second (€ 4bn over 30 years) at a rate of 0.134%.
These exceptional loan conditions will be transmitted directly to the beneficiary Member States.
To date, the SURE instrument has made it possible to disburse a total of € 53.5 billion to 15 countries * out of the € 90.3 billion already programmed for 18 Member States. “Under the SURE program, the Union has mobilized up to € 100 billion in loans for EU Member States in order to protect and maintain jobs. Funds are regularly made available to our Member States to help them financially in mitigating the effects of the coronavirus pandemic. , comments Ursula von der Leyen, President of the European Commission.
“After this fourth successful bond issue under SURE, we have now disbursed over half of SURE funds (…) We will quickly implement the rest of the program to deliver all authorized funds to the 18 member states who have thus requested financial support so far within the framework of SURE ”, adds Johannes Hahn, European Commissioner for Budget and Administration.
*Italy, Spain, Poland, Greece, Croatia, Lithuania, Cyprus, Slovenia, Malta, Latvia, Belgium, Romania, Hungary, Portugal and Slovakia.