The Commission has published its first preliminary assessment of the impact of SURE, the €100 billion instrument designed to protect jobs and incomes affected by the COVID-19 pandemic.
The report finds that SURE has been successful in cushioning the severe socio-economic impact resulting from the COVID-19 crisis. It has helped to ensure that the increase in unemployment in the beneficiary Member States during the crisis has been significantly smaller than during the global financial crisis, despite them experiencing a larger decrease in GDP.
SURE is a crucial element of the EU's comprehensive strategy to protect citizens and mitigate the severely negative socio-economic consequences of the COVID-19 pandemic. It provides financial support in the form of loans granted on favourable terms from the EU to Member States to finance national short-time work schemes, and other similar measures to preserve employment and support incomes, notably for the self-employed, and some health-related measures. The Commission has so far proposed a total of €90.6 billion in financial support to 19 Member States. SURE can still make over €9 billion of financial assistance available and Member States can still submit requests for support. The Commission stands ready to assess additional top-up requests from Member States in response to the resurgence of COVID-19 infections and new restrictions.
