Commissioner Hahn presented the NextGeneration EU funding strategy

14-04-2021 - 17:03
Photo of 50 euro bills.
Next Generation EU funding strategy © European Parliament

Johannes Hahn, Commissioner for Budget and Human Resources, presented the funding strategy for the 750 billion euros recovery instrument (Next Generation EU). The instrument will be financed through the issuance of common debt by the European Commission, building on previous experience - notably the recent issuance of social bonds under the Support to mitigate Unemployment Risk in an Emergency (SURE) programme.

However, it is the first time that the Commission will borrow on such a scale and for the purpose of direct EU expenditure to be guaranteed and later repaid by the EU budget (and not only for back-to-back loans to be repaid gradually by the benefitting Member States). MEPs from the Committee on Budgets exercised scrutiny on this highly strategic topic.

The exchange of views took place on 14 April 2021, from 13.45 to 15.15.