Semi-annual report on the execution of the NextGenerationEU funding operations pursuant to Article 12 of Commission Implementing Decision C(2021)2502 (June – December 2021)

Summary:

Report published by the European Commission on 17 February 2022, reviewing the implementation of the NextGenerationEU funding strategy during the period from June to December 2021.

Further information:

NextGenerationEU is a funding programme which is able to mobilise up to 5% of EU GDP through borrowing to finance the response of the European Union (EU) to the COVID-19 (coronavirus) pandemic. It is a temporary instrument, under which the European Commission can raise up to €800 billion between 2021 and 2026 through the issuance of bonds. The proceeds allow the EU to overcome the immediate recovery challenges but also to accelerate the twin transitions of the EU economy. Up to €250 billion are to be raised through the issuance of green bonds. NextGenerationEU entails annual bond issuance of on average up to roughly €150 billion per year.

This is the first semi-annual report pursuant of Article 12 of Commission Implementing Decision C(2021)2502. It reviews the implementation of the NextGenerationEU funding strategy between June and December 2021. It focuses solely on the process implemented to raise and disburse the funding for NextGenerationEU.  This report forms one part of a regular flow of information to the co-legislators on the implementation of this funding programme.