The Council of the EU on Friday approved a package of exceptional loans from the European Union in favor of 16 member states, including Belgium, for a total of 87.4 billion euros.
LBelgium, which had requested aid at the beginning of August, will be able to benefit from a loan of up to 7.8 billion euros, to compensate for exceptional expenses linked to temporary corona unemployment, corona parental leave, legal rights. gateway, etc. Indeed, the Council of the EU validated on Friday a package of exceptional loans from the European Union in favor of 16 member states, including Belgium, for a total of 87.4 billion euros.
“Mitigate the risks of unemployment”
This financial support is part of one of the “safety nets” put in place by Europe after the outbreak of the Covid-19 pandemic on the continent. This temporary mechanism has been dubbed “SURE”, and it aims to help states “mitigate the risks of unemployment” in the context of the pandemic. Those who, like Belgium, set up aid to maintain employment such as partial unemployment supported financially by the State or aid to the self-employed, can call on European loans on favorable terms.
The funds will be raised by the Commission on the capital markets.
Member States validated on Friday a first list of loan requests, ranging from Italy (27.4 billion euros) and Spain (21.3 billion), the “biggest” applicants, to Latvia (193 million euros).