Belgium, (Brussels Morning Newspaper) The European Commission raised an additional 11 billion euro for the bloc’s economic recovery and to support Ukraine.
In a statement released on Tuesday, the body pointed out that it raised 5 billion euro through 7-year bonds and 6 billion through 20-year bonds.
It noted that the former are due in December 2029 and the latter in November 2042.
Johennes Hahn, European Commissioner for Budget and Administration, pointed out that “EU funding is a concrete expression of solidarity with Ukraine and member states recovering from the pandemic.”
He stressed that the Commission managed to raise additional 11 billion euro despite challenging market conditions and noted that 2 billion of this “will be released swiftly to help Ukraine in this war of aggression on European soil.”
Hahn pointed out that the money will be provided to Ukraine in the form of loans and added “this will be the first instalment of the 5 billion euro in macro-financial assistance (MFA) loan to Ukraine agreed on 20 September.”
The latest transaction pushes the EC’s funding under NextGenerationEU to 157.6 billion since the launch of the programme in June last year.
Continue reading EC raises €11bn for recovery, Ukraine at Brussels Morning Newspaper.
