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Oct 26, 2020

Council of the EU approves 504 million euro credit for Hungary to protect jobs hit by pandemic

The finance ministry noted that the Hungarian government had already provided aid to some 900,000 jobholders, by grants to help their positions on the labor market or training support.

 

The Council of the European Union has approved a 504 million euro credit for Hungary, within the framework of the EU’s SURE program to protect jobs in countries hit hard by the coronavirus epidemic.

According to MTI, the European Commission’s instrument for temporary Support to mitigate Unemployment Risks in an Emergency (SURE) was launched on August 24, and has disbursed 87.8 billion euros to 17 member states.

The instrument has been created to support countries hit by the coronavirus epidemic, by issuing loans to support short-term work schemes and other measures. The applicants are scheduled to receive around half of the support this year, and the other half in early 2021.

The finance ministry said that credit, available with favorable conditions, will refinance job protection and job health protection measures introduced after February 1, 2021. In the statement, the ministry noted that the Hungarian government had already provided aid to some 900,000 jobholders, by grants to help their positions on the labor market or training support.