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Cyprus receives 250m in EU pandemic loan
November 18, 2020
The European Commission on Tuesday disbursed €14bn to nine EU countries, including Cyprus, in the second instalment of financial support to Member States under the SURE instrument.
“Today Cyprus will receive €250m through SURE for safeguarding jobs over the course of the pandemic. In total Cyprus will receive €479m through SURE,” European Commission President Ursula von der Leyen said.
The support, in the form of loans granted on favourable terms, will assist member states in addressing sudden increases in public expenditure to preserve employment.
Specifically, they will help 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, including for the self-employed.