The European Commission has announced its intention to sell up to €80 billion of EU-Bonds in the second half of 2026.

This will bring the total planned EU-Bond issuance for 2026 to €180 billion, in line with the Commission’s earlier indication for the year.

“The proceeds will be used to fund EU policy programmes financed through borrowing on capital markets,” said the Commission.

“These include disbursements to EU Member States under the NextGenerationEU programme, support for Ukraine (including payments under the new Ukraine Support Loan), disbursements under the Security Action for Europe (SAFE) instrument, and contributions to other EU programmes.

“The Commission will continue to carry out all issuances under its unified funding approach, using a mix of long-term and short-term instruments.

“This approach enables the Commission to meet disbursement needs across the increasing range of policy programmes funded by capital market operations, supporting a stable pattern of EU-Bond issuances.

“The Commission will also continue to issue NextGenerationEU Green Bonds on the basis of reported green expenditures by Member States under the Recovery and Resilience Facility.

“To date, €84.3 billion have been raised through issuance of NextGenerationEU Green Bonds. Such issuances can continue to take place after 2026, as part of the roll-over operations under the management of the NextGenerationEU-related borrowing …

“Using proceeds raised by EU-Bonds and NextGenerationEU Green Bonds issued since mid-2021, the Commission has so far disbursed over €241.8 billion in grants and €166 billion in loans to EU Member States under the Recovery and Resilience Facility.

“Up to €78.4 billion have been allocated to other EU programmes benefitting from NextGenerationEU funding.”