SURE (Support to mitigate Unemployment Risks in an Emergency)

SURE is a European Commission initiative designed to provide financial assistance to EU member states facing crises, such as the COVID-19 pandemic. Through the issuance of social bonds, the program helps countries fund short-term employment schemes, like job retention programs, to protect workers and stabilize the economy. Since its launch, SURE has raised significant funds, supporting millions of workers across Europe. This initiative plays a crucial role in managing economic disruptions and fostering recovery.

Launched in 2020, the program allows the EU to issue social bonds to raise funds for short-term unemployment schemes like furlough programs, helping to maintain employment levels and stabilize economies during economic disruptions.

Key Features

• Provides up to €100 billion in financial assistance through favorable loans to EU Member States.
• Supports short-time work schemes (STW) and similar measures to help businesses retain employees.
• Helps self-employed workers maintain their income during economic downturns.
• Strengthens social protection systems by mitigating the risk of mass unemployment.

Why It’s a Best Practice

• Effectiveness: Helped protect around 31.5 million workers and 2.5 million firms across the EU.
• Scalability: Can be adapted to different crises and economic shocks.
• Collaboration: Demonstrates EU solidarity by pooling financial resources to assist struggling Member States.
• Positive Impact: Contributed to economic recovery by reducing layoffs and maintaining economic stability.