The borrowing strategy to finance Next Generation EU, the Union’s Recovery instrument

Reference A9-0250/2022Committee BUDGEconomy and budget

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How the groups voted

GroupForAgainstAbstainedAbsentUnity

The Left38

2445573%

S&D144

123461192%

Greens/EFA71

The European Parliament adopted by 474 votes to 80, with 78 abstentions, a resolution on the implementation of the borrowing strategy to finance NextGenerationEU, the Union’s recovery instrument.Parliament recalled that the Own Resources Decision empowers the Commission to borrow funds of up to EUR 750 billion in 2018 prices between 2021 and 2026 on the capital markets on behalf of the Union for the sole purpose of addressing the consequences of the COVID ‑ 19 crisis through NextGenerationEU (NGEU), the EU’s recovery instrument. EUR 360 billion in 2018 prices may be used to provide loans to Member States and EUR 390 billion may be used directly for EU expenditure.NGEU is the largest EU common borrowing programme and the first that not only…