Commission Releases €2.54bn in SURE Support Funds for Greece

Greece will be receiving 2.54 billion euros to support employment after the European Commission released this week funds as part of its SURE scheme, according to Greek Finance Minister Christos Staikouras.

The Commission disbursed a total of 14.1 billion euros to 12 member states in the seventh instalment of financial support under SURE.

Greece gets 2.54 billion euros in funding out of the 14.1-billion-euro SURE instrument designed to protect jobs and incomes affected by the Covid-19 pandemic. 

“In under two months after the Greek government submitted its request to the European Commission for additional – unallocated on a European level – resources from the SURE Program, Greece today welcomes the disbursement of these additional resources, which amount to 2.54 billion euros,” said Staikouras.

“In addition to the 2.73 billion euros already disbursed through to February, the total aid to Greece from the instrument aimed at supporting employment will amount to 5.27 billion euros – almost double the original forecast,” the minister said.

Greek Finance Minister Christos Staikouras. Photo source: @cstaikouras

The funds, in the form of a loan with low to zero borrowing costs, will cover job support measures implemented during the pandemic and include special purpose compensation and insurance contributions for employees on furlough, seasonal workers, and the Syn-Ergasia program, said Staikouras.

He went on to add that the ministry will continue to tap into local and EU schemes and resources “so that the wounds of the health crisis heal as soon as possible and a solid foundation is established towards achieving high, sustainable, smart and inclusive growth”.