EU Issues Bonds to Support Recovery Fund

The European Union (EU) launched on Monday the sale of the first bond backing its massive COVID-19 recovery fund, Reuters reported.

The aim is to provide the needed finances to member countries, providing aid in combating the pandemic.

A 10-year bond represents the beginning of an expected EUR 800 billion of debt issuance until 2026.

The bond is expected to raise EUR 10 billion, with another EUR 80 billion expected from long-term debt instruments this year.