On Monday 16 November, the European Commission announced the presentation of a new proposal for a decision to grant €2.5 billion to Ireland under the SURE instrument, an instrument that was set up to fund national systems in their response to the coronavirus pandemic.
€90.3 billion of the €100 billion provided for under the instrument, was requested on behalf of 18 Member States. There would be just under €10 billion remaining. Estonia has reportedly expressed an interest in applying for the instrument, but no formal request has been made at this stage.
Today’s proposal follows initial outgoing funds to the tune of €17 billion to Italy, Spain and Poland, as well as two successful issues of social bonds, according to the European Commission. In fact, some bonds have been oversubscribed by up to 13 times (see EUROPE 12600/27 and 12590/12). (Original version in French by Pascal Hansens)