site.btaEC Proposes EUR 511 Mln for Bulgaria to Mitigate Post-Pandemic Employment Risks

Brussels, August 24 (BTA) - Bulgaria is to receive 511 million
euro in EU funding to cushion the severe socio-economic impact
of the coronavirus pandemic, the European Commission's (EC)
Representation in Sofia said.

The financial support package, proposed by the EC on Monday for
approval by the Council, totals 81.4 billion euro and will
benefit 15 Member States. The aid comes under the 100 billion
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.
NV/LG