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Germany Plans $68 Billion Loan Guarantees for Energy Firms

  • Government to use mechanism set up to offset pandemic impact
  • Scholz’s cabinet to approve plan at regular meeting Wednesday
Updated on

Germany is set to use a fund created to help companies cope with the economic hit from the pandemic to provide loan guarantees for struggling energy firms, according to a person familiar with the plan.

State development bank KfW would oversee the mechanism and the volume of loan guarantees available would be around 67 billion euros ($67.9 billion), said the person, who asked not to be identified discussing confidential information.