MNI BRIEF: Commission Confirms Its 2021 NGEU Funding Plan

The EU Commission has confirmed its funding plan for NGEU this year at EUR80 billion of long-term bonds, supplemented by tens of billions of short-term bills to be sold at regular auctions. The Commission made the announcement at the same time as releasing details of Green Bond Framework, planning total Green Bond issuance of EUR250 billion over the lifetime of the NGEU programme, 30% of the total.

The EC will be offering the EU-Bills exclusively via auctions, with its auctioning programme due to start on 15 September. The Commission will be organising typically two auctions per month for EU-Bills, on the first and third Wednesday of the month. The auction programme will also be used for bonds, in addition to syndications. Under its issuance calendar released today, the Commission in general will be holding one auction and one syndication per month for its bonds.

Commissioner Johannes Hahn added: "The confirmation of our original funding plan for 2021 is a sign of the excellent planning and preparatory work done so far. The launch of our auctioning platform is another piece of great news, which will further raise the attractiveness of EU borrowing and have a lasting impact on the EU capital markets."