The European Commission has raised its target for issuing EU-Bonds in the first half of 2026 by €10 billion to €100 billion, up from the €90 billion it set out in December.
The Commission also lifted its indicative EU-Bond issuance volume for the whole of 2026 by €20 billion to €180 billion, according to its latest update released on Thursday.
The change follows completion of legislative procedures for a new Ukraine Support Loan covering 2026–2027.
Money raised through EU borrowing will be used to provide loans to EU member states under the NextGenerationEU programme, as well as loans to support the procurement of defence-related capabilities under the Security Action for Europe (SAFE) instrument.
Other EU programmes to be financed through borrowing include the Ukraine Facility, the Reform and Growth Facility for the Western Balkans, and Macro-Financial Assistance loans to neighbouring countries.
What the funding plans are
The Commission publishes annual and semi-annual funding plans under its “unified funding approach”, with the annual borrowing decision setting the maximum amount it can borrow in a year and the semi-annual plan setting an indicative issuance calendar and expected volumes for the next six months, it said.
The updated funding plan has been published on the Commission’s borrowing and lending website.
