SURE is one of three safety nets worth €540 billion, intended for protecting jobs and workers, companies, and member-states. The acronym stands for Support to mitigate Unemployment Risks in an Emergency instrument.
The political agreement was reached by EU member-states' ambassadors in Brussels, and the deal is expected to be formally confirmed by the Council of the EU by 19 May.
"SURE will be the key safety net for protecting jobs and workers, because it will ensure that the member-states have the necessary funds for measures aimed at dealing with the issues of unemployment and loss of income, as well as for some health measures," stated the Croatian finance minister, Zdravko Maric.
The loans will be based on guarantees given by member-states, and they will be directed towards those areas most urgently in need of funds.