The German government authorised 60 billion euros ($68 billion) in funds for climate change mitigation and modernization on Monday, a decision that the country’s new finance minister called as a ‘booster’ for Europe’s largest economy.
The money would be deposited into a government fund being reconfigured as a ‘climate and transformation fund,’ according to the extra budget authorised by Chancellor Olaf Scholz’s Cabinet. It will be used as fund for climate change programmes as well as infrastructure improvements in Germany.
According to Finance Minister Christian Lindner, ‘60 billion euros for future investments are a boost for the economy,’ which is still recuperating from the coronavirus outbreak.
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