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Lógó an Choimisiúin Eorpaigh
Representation in Ireland
Alt nuachta14 Aibreán 2021

NextGenerationEU: European Commission gets ready to raise up to €800 billion to fund the recovery

NextGenerationEU – the temporary recovery instrument at the heart of the EU’s response to the coronavirus pandemic – will be funded by borrowing on the capital markets.

Image with text: Next Generation EU

The European Commission today took steps to ensure that borrowing under NextGenerationEU will be financed on the most advantageous terms for EU Member States and their citizens. The Commission will use a diversified funding strategy to raise up to around €800 billion in current prices until 2026.

This will translate into borrowing volumes of on average roughly €150 billion per year, which will make the EU one of the largest issuers in euro. All borrowing will be repaid by 2058.

Johannes Hahn, Commissioner in charge of Budget and Administration, said: “NextGenerationEU is a game changer for European capital markets. Today, we are unveiling the engine that will pump the fuel to power NextGenerationEU. The funding strategy will operationalise the NextGenerationEU borrowing, so we will have all necessary tools in place to kick-start the social and economic recovery and promote our green, digital and resilient growth. The message is clear: as soon as the Commission has been legally enabled to borrow, we are ready to get going!”

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14 Aibreán 2021