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Commission raises €12bn for Covid recovery spending

                 

Green bonds will help pay for member states plans, including investments in R&D

The European Commission has raised €12 billion via what it calls the world’s largest ever issue of green bonds, with money raised earmarked for financing climate-related investments in EU member states as part of the bloc’s plan for recovery from the Covid-19 pandemic.

Recovery plans for member states already approved by the Commission include significant investments in R&D. Overall, the EU’s post-Covid ‘Recovery and Resilience Facility’ will provide €724bn to member states, and the Commission has said it will raise around €800bn from capital markets up to the end of 2026.  

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