Legal provisions of COM(2020)464 - Proposal to grant temporary support under Council Regulation (EU) 2020/672 to Malta to mitigate unemployment risks in an emergency situation following the COVID-19 outbreak

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dossier COM(2020)464 - Proposal to grant temporary support under Council Regulation (EU) 2020/672 to Malta to mitigate unemployment risks in an ...
document COM(2020)464 EN
date September 25, 2020

Contents

Article 1

Malta fulfils the conditions set out in Article 3 of Regulation (EU) 2020/672.

Article 2

1. The Union shall make available to Malta a loan amounting to a maximum of EUR 243 632 000. The loan shall have a maximum average maturity of 15 years.

2. The availability period for financial assistance granted by this Decision shall be 18 months starting from the first day after this Decision has taken effect.

3. The Union financial assistance shall be made available by the Commission to Malta in a maximum of eight instalments. An instalment may be disbursed in one or several tranches. The maturities of the tranches under the first instalment may be longer than the maximum average maturity referred to in paragraph 1. In such cases, the maturities of further tranches shall be set so that the maximum average maturity referred to in paragraph 1 is respected once all instalments have been disbursed.

4. The first instalment shall be released subject to the entry into force of the loan agreement provided for in Article 8(2) of Regulation (EU) 2020/672.

5. Malta shall pay the cost of the funding of the Union referred to in Article 4 of Regulation (EU) 2020/672 for each instalment plus any fees, costs and expenses of the Union resulting from any funding related to the loan granted under paragraph 1 of this Article.

6. The Commission shall decide on the size and release of instalments, as well as on the size of the tranches.

Article 3

Malta may finance the following measures:

(a)the COVID-19 wage supplement, as provided for in ‘Malta Enterprise Act (Chap. 463 of the Laws of Malta)’/‘L-Att dwar il-Korporazzjoni għall-Intrapriża ta’ Malta (Kap. 463 tal-Liġijiet ta’ Malta)’ and ‘Government Notice No 389 of 13 April 2020’/‘Notifikazzjoni tal-Gvern Nru 389 tat-13 ta’ April 2020’;

(b)the COVID-19 disability benefit, as provided for in ‘Government Notice No 331 of 25 March 2020’/‘Notifikazzjoni tal-Gvern Nru 331 tal-25 ta’ Marzu 2020’;

(c)the COVID-19 parent benefit, as provided for in ‘Government Notice No 330 of 25 March 2020’/‘Notifikazzjoni tal-Gvern Nru 330 tal-25 ta’ Marzu 2020’;

(d)the COVID-19 medical benefit, as provided for in ‘Government Notice No 353 of 30 March 2020’/‘Notifikazzjoni tal-Gvern Nru 353 tat-30 ta’ Marzu 2020’.

Article 4

Malta shall inform the Commission by 30 March 2021, and every six months thereafter of the implementation of the planned public expenditure until that planned public expenditure has been fully implemented.

Article 5

This Decision is addressed to the Republic of Malta.

This Decision shall take effect on the date of its notification to the addressee.

Article 6

This Decision shall be published in the Official Journal of the European Union.