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08-04-2021 10:33 AM CEST

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Johannes Hahn, Commissioner for Budget and Human Resources, will present 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 will exercise scrutiny on this highly strategic topic.

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

Source : © European Union, 2021 - EP
08-04-2021 10:31 AM CEST

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Niall Bohan, Director in DG Budget, will present to the Committee on Budgets the Communication detailing the steps taken by the European Commission to prepare for the entry into operation of the Common Provisioning Fund.

The common provisioning fund will constitute a central pillar of the Union budgetary architecture over the course of the 2021-2027 Multiannual Financial Framework (EU's long-term budget). It will hold the provisions that secure the functioning of all the EU budgetary guarantees and provisioned financial assistance programmes in a single portfolio. The effective management of these Union assets is critical for anchoring the investment support that the Union provides through its budgetary guarantees inside and outside the EU.

The meeting will take place on 13 April.

Source : © European Union, 2021 - EP

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