From DW:
A papal bull is an official edict from the Holy See, the name ‘bulla’ referring to the lead seal that these bear
Pope Francis on Thursday used the Feast of Ascension to preside over the reading of a papal bull at St. Peter’s Basilica in Rome, declaring 2025 a Holy Year for Catholics around the world.
The event, which happens every 25 years, will begin on Christmas Eve, December 24, 2024; and continue through Epiphany, on January 6, 2026.
What the pope said
In the official edict, Francis proclaimed that the theme of the celebration would be “hope,” and called on wealthy nations to forgive debts owed them by poorer ones, suggesting they, “acknowledge the gravity of so many of their past decisions and determine to forgive the debts of countries that will never be able to pay them.”