The Ministry for Finance and Employment said that yesterday, Malta received from the European Commission the nominal amount of €177 million in financial support in the form of loans given on favourable terms under the SURE Instrument.
These loans were disbursed after the total amount of financial assistance granted to Malta under the SURE instrument was increased by €177.185 million in April 2021, in terms of Implementing Decision (EU) 2021/676.
By the end of March 2021, Malta received €243 million nominal in loans given on favourable terms under the SURE instrument. These were disbursed in two tranches in November 2020 and March 2021 in terms of Implementing Decision (EU) 2020/1352.
The SURE instrument was established under Council Regulation (EU) 2020/672 in May 2020 and was intended to provide temporary support to EU member states to mitigate unemployment risks in an emergency in response to the Covid-19 outbreak.
More details about these loans can be found in the table below:
|
May 2021
|
8-Year Loan
|
25-Year Loan
|
|
Nominal Amount
|
€107,000,000
|
€70,000,000
|
|
Coupon
|
0%
|
0.75%
|
|
Yield (ISMA)
|
0.019%
|
0.757%
|