The framework adopted on 7 September provides investors in these bonds with confidence that the funds mobilised will be allocated to green projects and that the Commission will report on their environmental impact. Now that the framework has been adopted, the Commission will soon proceed with the first green bond issuance in the month of October, subject to market conditions. As announced earlier this year, the Commission has also reviewed its plan for funding the recovery in 2021 and confirmed its intention to issue a total of around €80 billion in long-term bonds this year, to be topped up by tens of billions of euros in short-term EU-Bills. The Commission will be offering the EU-Bills exclusively via auctions, with its auctioning programme due to start on 15 September.