ECONOMIC AND FINANCIAL AFFAIRS - NextGenerationEU: Commission to issue €50 billion in bonds in second half of 2022 to finance recovery

On 24 June, the Commission announced its intention to issue €50 billion in the form of Union bonds to finance the NextGenerationEU recovery program between July and December 2022, an amount to be completed using short-term financing (Union debt securities).

NextGenerationEU flag on a EU building — European Union

date: 30/06/2022

The funds will be used to support Member States' economic recovery, following the COVID-19 pandemic, under the Recovery and Resilience Facility. Alongside the financing of NextGenerationEU, the Commission may also be called upon to issue up to €9 billion for loans to support Ukraine under a new exceptional macro-financial assistance (MFA) program and up to €6.6 billion for loans under the SURE programme, subject to requests from Member States and the completion of the relevant procedures. Since June 2021, when the Commission made its market debut with NextGenerationEU, issuance under the program has amounted to €118.5 billion through long-term EU bonds, of which €28 billion through the issuance of NextGenerationEU green bonds. The Commission will announce its issuance plans for the first half of 2023 at the end of the year.