(MENAFN- Kuwait News Agency (KUNA))
BRUSSELS, Oct 12 (KUNA) -- The European Commission Tuesday announced that it has issued the first NextGenerationEU green bond, thus raising 12 billion euro (USD 13.8 billion) to be used exclusively for green and sustainable investments across the EU.
This represents the world's largest green bond issuance ever, it said in a press release.
With the strong oversubscription rate and excellent pricing conditions today's issuance represents a promising start to the NextGenerationEU green bond programme of up to 250 billion euro (USD 288 billion) by end-2026.
A wide range of investors expressed interest in the bond, it noted.
NextGenerationEU is a temporary recovery instrument of more than 800 billion euro (USD 922 billion) in current prices to support Europe's recovery from the coronavirus pandemic and help build a greener, more digital and more resilient Europe.
To finance NextGenerationEU, the European Commission, on behalf of the 27-member EU, will raise from the capital markets around 800 billion euro between now and end-2026. (end)
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