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NextGenerationEU: European Commission to issue around €80 billion in long-term bonds as part of funding plan for 2021

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Following the approval of the Own Resources Decision by all EU member states, the Commission can now start raising resources to finance Europe's recovery through NextGenerationEU. To that end, the European Commission announced yesterday its estimates to issue around €80 billion of long-term bonds in 2021, to be topped up by tens of billions of euro of short-term EU-Bills to cover the remaining financing requirements. The exact amount of both EU-Bonds and EU-Bills will depend on the precise funding needs, and the Commission will revise today's assessment in the autumn.

In this way, the Commission will be able to fund, over the second half of the year, all planned grants and loans to member states under the Recovery and Resilience Facility, as well as cover the needs of the EU policies that receive NextGenerationEU funding. This funding plan is based on an initial estimate of the needs of member states in terms of loans and grants. The Commission will update the funding plan in September, when it has a more precise overview of the funding needs of the EU member states for the last months of the year.

The full press release and Q&A are available online.

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