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EU MAKES FIRST COVID-19 FUNDS AVAILABLE FOR MALTA TO SUPPORT BUSINESSES

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Malta will, as of Tuesday, have access to €120 million under the SURE Programme, to ensure that companies retain their employees during the hard times brought about by the COVID-19 pandemic, European Commission president Ursula von der Leyen said on Monday in an interview released by Malta's representation to the EU and TVM.

A second similarly-sized tranche will be made available 'pretty soon' the president said. 

The temporary Support to mitigate Unemployment Risks in an Emergency (SURE) is available for Member States that need to mobilise significant financial means to fight the negative economic and social consequences of the coronavirus outbreak on their territory. The allocation for Malta is of €244 million. 

The government launched the wage subsidy scheme in April, weeks after Covid-19 caused a slowdown of the economy. The scheme has been extended to next year.

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