KCG Partners (Hungary): Financial support from the EU to Hungary

As a part of its coronavirus response, the European Council adopted a regulation on establishing the Support to mitigate Unemployment Risks in an Emergency (SURE) on 19 May 2020. The financial support is available for Member States that need to mobilise significant financial means to tackle the negative economic and social impacts of the pandemic. The purpose of SURE is to help Member States to cover the costs directly related to the financing of national short-time work schemes, and other similar measures they have introduced as a reaction to the coronavirus. The SURE might also be used to support the installation of health protection measures at the workplace, in order to ensure safe return to work for employees. The support is provided from the EU to the Member States in the form of loans on favourable terms.

Until now, the Council has decided to provide financial support for 16 Member States under SURE to help protect jobs and keep people employed. On 7 October 2020 the Commission presented a proposal to the Council for a decision to grant EUR 504 million (HUF 180 billion) financial support to Hungary within the framework of SURE.

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