European Commission raises further €11 billion, including €2 billion for Ukraine

On 11 October, the European Commission issued €11 billion in a dual tranche transaction, the proceeds of which will be used to support Ukraine under the EU’s MFA programme and for Europe’s recovery under the flagship of the NextGenerationEU programme. 

The deal consisted of a €5 billion tap of the 7-year bond due on 4 December 2029 and a new 20-year bond of €6 billion due on 4 November 2042.

From the funds raised through the sale of the new 20-year bond, €2 billion will be granted as loans to Ukraine. This will be the first instalment of the €5 billion in macro-financial assistance (MFA) loans to Ukraine agreed on 20 September 2022.

Following the transaction made on 11 October, the Commission has raised €3 billion so far, under its MFA programme for Ukraine in the second half of the year, on top of €1.2 billion earlier in 2022. It will be followed by further loans to Ukraine in the coming weeks. This has been part of the extraordinary support of €19 billion secured by Team Europe for Ukraine to date.

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Press release