The European Commission announced on Tuesday that it had disbursed 17 billion euros in loans to three countries - Italy, Spain, Poland - to help them face the increase in unemployment linked to the coronavirus pandemic.
These are the first payments made under the temporary “
” program which aims to support partial unemployment measures in response to the health crisis.
This support consists of loans guaranteed on favorable terms.
The money is borrowed by the Commission on the financial markets, taking advantage of the low interest rates it receives, and then lent to Member States in need.
In detail, Italy got 10 billion euros on Tuesday, Spain 6 billion and Poland 1 billion. In total, Italy is to receive 27.4 billion euros, Spain 21.3 billion and Poland 11.2 billion, under this temporary instrument, the total amount of which has been capped at 100 billion euros. euros.