L R AS Published on Monday 13 September 2021 - n° 373 - Categories:funding
First capital raising by the European Union
The European Commission has announced that the first auction (worth €80bn) of a green bond programme
250 billion, will take place next month.
The Union has budgeted a €800 billion Covid recovery plan "NextGenerationEU" until the end of 2026. The plan includes a €724 billion 'Recovery and Resilience Facility' (RRF) that will pay for grants and loans to member states (at least 37% must be spent on green spending).
This year's funding will be provided by this €80 billion sale, supplemented by "tens of billions of euros of short-term European bonds". From next year onwards, the EU will raise around €150 billion a year.
PV Magazine of 9 September 2021