Bulgaria's govt approves 511 mln euro loan deal under EU's SURE instrument

Bulgaria's govt approves 511 mln euro loan deal under EU's SURE instrument

Bulgaria's government said that it has approved the draft agreement for a 511 mln euro ($605 million) loan deal under EU's SURE instrument and empowered the finance minister to sign it.

The loan will have a term of up to 15 years, the government said in a statement following a weekly meeting on Wednesday.

The agreement will need to be ratified by parliament after it is signed.

The funding will support the government measures aimed at softening the economic fallout from the coronavirus pandemic.

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