Commodities
Germany Draws Up €2 Billion State Fund to Secure Key Commodities
- Government wants secure access to inputs for energy transition
- Move aims to cut import reliance from nations including China
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The German government plans to set up a state fund worth up to €2 billion ($2.2 billion) that will support mining of raw materials critical to the nation’s green transition, with the aim of securing access and cutting reliance on China.
The new financing vehicle could start next year if the ruling coalition agrees on the funding, according to people familiar with the matter, and will be equipped with funds between €1 billion and €2 billion.