IRELAND has received €2.47bn in emergency Covid-19 loans from the EU to cover last year’s wage subsidy scheme. It’s the first time the Government has used the European Commission’s fund for “support to mitigate unemployment risks in an emergency” (or SURE). “The focus now is ensuring we get a strong recovery under way.”The G overnment applied for the loan last October to cover the Temporary Wage Subsidy Scheme (TWSS) – the precursor to the Employment Wage Subsidy Scheme (EWSS) – which ran from March and August 2020. “This is a crucial contribution to national efforts to support workers through these difficult times. The money will have to be paid back to the EU, but Ireland will benefit from the Commission’s favourable borrowing conditions.

Source: Irish Independent March 30, 2021 21:00 UTC