The European Commission is empowered by the EU Treaties to borrow from the international capital markets on behalf of the European Union. It is a well-established name in debt securities markets, with a strong track record of successful bond issuances over the past 40 years. All EU-Bond issuances executed by the European Commission are denominated exclusively in euro.
The European Commission uses the proceeds of EU-Bond issuances to fund EU policy programmes. Landmark policy programmes currently funded by EU-Bonds include the NextGenerationEU recovery instrument of up to around €800 billion in current prices and the Commission's Macro-Financial Assistance + programme for Ukraine.
EU borrowing is executed using multiple instruments, including EU-Bonds, EU-Bills, and NextGenerationEU Green Bonds. The Commission also makes use of different funding techniques, such as syndications and auctions. The Commission communicates its planned funding volumes to the market through bi-annual funding plans covering the next six months of operations.
For regular updates on the EU’s borrowing and lending activities you can subscribe to our quarterly investor newsletter. Our investor presentation also provides a consolidated overview of our funding operations.