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Statement by President von der Leyen on NextGenerationEU, the Recovery Plan for Europe

Met dank overgenomen van Europese Commissie (EC), gepubliceerd op dinsdag 15 juni 2021.

Good evening,

Today, we reached a key milestone in the implementation of our Recovery Plan NextGenerationEU. NextGenerationEU will provide, in today's prices, EUR 800 billion to reshape our continent for decades ahead, to build a more sustainable, a more digital and, of course, a more resilient Europe. To fund NextGenerationEU, we have agreed that the Commission will raise the necessary capital on the market. And today, we have successfully conducted the first issuance operation for NextGenerationEU.

The Commission has just raised EUR 20 billion in the capital markets by issuing a ten-year bond. This is the largest ever institutional bond issuance in Europe. And I am very pleased that this attracted very strong interest by a wide range of investors. The bond was oversubscribed seven times and the bond was priced under very attractive terms. We are paying less than 0.1% interest on it.

Today's deal confirms that Europe is attractive. By the end of this year, we expect to have issued around EUR 100 billion in bonds and bills. This will enable us to fund all planned grants and loans for Member States this year. And this shows that NextGenerationEU is a huge opportunity for us. We need to invest this money well, to make the best out of it.

Now, how are we going to proceed? After very intense dialogue with national governments, we have completed our Commission's assessment of several national recovery and resilience plans. And from tomorrow on, I will travel to these Member States. So this week, I will visit Portugal, Spain, Greece, Denmark and Luxembourg. And I am planning more trips in the following weeks.

I want, at this point, to thank everyone for the incredible work done to produce these ambitious plans. But we all know, it is good to have a plan, but this is only the start. Now we have to implement them. We have to launch the transformation of our economies. And we have to make sure that the plans are in line with European priorities. We know that on paper, they are. Now we have to make sure that the implementation of these ambitious goals takes place. And we will be very vigilant to make sure that this implementation is rigorous. We want the best value for our economies, but we want also the best value for our citizens.

And I am very glad to see how NextGenerationEU is now becoming a reality. Before I end, I really want to thank Commissioner Hahn for the outstanding work you have done and the big success of today. So you can be really proud of it and it is a great achievement.

So good luck on your press conference and thanks.

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