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We are presenting our decision to the National Assembly as soon as possible, so that our country can begin to implement the SURE instrument in a short time. In this way, we will complement our national efforts to overcome the pandemic and its socioeconomic consequences for workers and the self-employed. This was stated by Prime Minister Boyko Borissov at today’s extraordinary meeting of the government, in which the Council of Ministers adopted a decision proposing to the National Assembly the ratification by law of the Loan Agreement between the European Union as a lender and the Republic of Bulgaria as a borrower.
During the meeting, Finance Minister Kiril Ananiev noted that the European instrument is expected to support an average of 4,500 to 5,000 employers a month to retain about 140,000 employees.
The maximum amount of funds that the European Union can grant to Bulgaria under the SURE instrument is 511 million euros, with a maximum average maturity of 15 years. The term of availability of the financial assistance provided is 18 months, starting on September 30, 2020.
The agreement is derived from art. 8 (2) of Council Regulation (EU) 2020/672, of May 19, 2020, which establishes the European Instrument for temporary support to mitigate unemployment risks in exceptional circumstances after the COVID-19 pandemic, known as The SURE Tool.
On August 7, the Republic of Bulgaria submitted a formal request for financial assistance under the SURE instrument. The agreement was signed by Finance Minister Kiril Ananiev on 11/26/2020 and by the European Commission on 12/11/2020.
Sofia, Bulgaria
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