EU announces plans to issue 50 billion euros in bonds

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(VOVWORLD) - The European Commission on Friday announced plans to issue 50 billion euros (52.8 billion USD) of EU-Bonds to finance the NextGenerationEU recovery program between July and December.

The funds for the temporary recovery instrument were aimed at supporting member states' economic recovery from the coronavirus pandemic and helping build a greener, more digital and more resilient Europe.

To finance NextGenerationEU, the European Commission aims to raise around 800 billion euros from capital markets between mid-2021 and the end of 2026.