Angela Merkel's Coalition Seeks $15 Billion to Modernize Germany's Internet Grid
- Other plans in coalition agreement involve 5G, blockchain
- Seeks to create German-French artificial intelligence center
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Chancellor Angela Merkel’s coalition wants to spend as much as $15 billion modernizing the nation’s broadband network with fiberoptic cables to boost internet speeds, after years lagging behind countries including Spain and Portugal.
Merkel’s coalition wants to cover the country with "gigabit" speed internet networks by 2025 and plans to put 10 billion euros ($12 billion) to 12 billion euros in a special fund to help supply underserved regions with fiber lines, ideally directly to the home, according to a copy of the coalition agreement obtained by Bloomberg.