Malta receives €123 million loan from EU for COVID-19 support

Malta has received a €123 million loan from the European Commission to help address sudden increases in public expenditure arising from the COVID-19 outbreak.

This is the second and last tranche from a total €243.6 million allocation handed to Malta last year.

The support was given under the SURE Instrument, through which Member States can receive up to €100 billion in the form of loans to help mitigate the severe economic and social consequences of the COVID-19 outbreak.

This was designed to preserve employment, including self-employment and other related measures. 

The 15-year loan's nominal amount stands at €123 million, with a 0.2% coupon rate and a 0.228% yield.