Germany approves billions for climate, modernization fund

Dec 13, 2021, 4:32 AM | Updated: Dec 14, 2021, 5:23 pm

BERLIN (AP) — The German government on Monday approved 60 billion euros ($68 billion) in funding to be used for combating climate change and modernizing the country, a move that the new finance minister described as a “booster” for Europe’s biggest economy.

The supplementary budget approved by Chancellor Olaf Scholz’s Cabinet entails putting the money into a government fund that is being redesigned as a “climate and transformation fund.” It will be used to finance projects aimed at fighting climate change and improving Germany’s infrastructure.

Finance Minister Christian Lindner said in a statement that “60 billion euros for investments in the future are a booster for the economy,” which is still recovering from the coronavirus pandemic.

Lindner said new borrowing this year will remain at the 240.2 billion euros the previous government already planned.

“No new debt is being taken on … we are only using so-far unused credit authorization” to run up the extra funding, he told reporters.

Lindner and his pro-business Free Democrats, the smallest of three parties in the center-left Scholz’s coalition, have ruled out tax hikes and insist on continuing to observe rules that limit new debt in the future. Those have been suspended during the pandemic.

At the same time, the coalition has ambitious plans to ramp up the use of renewable energy and invest in modernizing digital and other infrastructure in Germany.

___

Follow all AP stories on climate change issues at https://apnews.com/hub/climate.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

AP

FILE - Republican Gov. Brian Kemp waves to supporters during an election night watch party, May 24,...
Associated Press

Ousters, upsets halfway through 2022 primary election season

COLUMBIA, S.C. (AP) — More than halfway through a tumultuous primary season, voters have rendered verdicts in a number of contests, many of which featured candidates arguing they best represented a continuation of policies favored by former President Donald Trump. While not on the ballot himself, Trump has played a role in several races, with […]
8 hours ago
Yellow tape marks bullet holes on a tree and a portrait and flowers create a makeshift memorial on ...
Associated Press

US: Shot that killed journalist likely fired from Israelis

WASHINGTON (AP) — U.S. officials have concluded that gunfire from Israeli positions likely killed Al-Jazeera journalist Shireen Abu Akleh but that there was “no reason to believe” her shooting was intentional, the State Department said Monday. The finding, in a statement from State Department spokesman Ned Price, came after what the U.S. said was inconclusive […]
8 hours ago
A shoe was abandoned in front of the shopping centre Fields, closed for at least a week after Sunda...
Associated Press

Motive likely not terror-related in ‘brutal’ Danish shooting

COPENHAGEN, Denmark (AP) — A gunman who killed three people when he opened fire in a crowded shopping mall acted alone and apparently selected his victims at random, Danish police said Monday, all but ruling out that the attack was an “act of terrorism.” Authorities filed preliminary charges of murder and attempted murder against a […]
8 hours ago
FILE - In this Aug. 28, 2019, photo, a guard stands in the intake area at the Adelanto ICE Processi...
Associated Press

Immigration detention facility near empty in California

LOS ANGELES (AP) — A sprawling, privately run detention center in the wind-swept California desert town of Adelanto could house nearly 2,000 migrants facing the prospect of deportation. These days, though, it’s nearly empty. The Adelanto facility is an extreme example of how the U.S. government’s use of guaranteed minimum payments in contracts with private […]
8 hours ago
German Chancellor Olaf Scholz, front, arrives for the 'Concerted Action', a meeting of representati...
Associated Press

German leader gathers employers, unions to tackle inflation

BERLIN (AP) — German Chancellor Olaf Scholz gathered top employer and labor union representatives at his Berlin office on Monday to seek ways of addressing the impact of rising prices while preventing a spiral of inflation in Europe’s biggest economy. The government billed Monday’s meeting as the first in a series aimed at finding a […]
8 hours ago
Chari Baker, front, gestures as she confronts Virginia Gov. Glenn Youngkin at a restaurant Wednesda...
Associated Press

Virginia law stops early inmate releases, angering families

RICHMOND, Va. (AP) — Christopher Ford was a baby when his father was sentenced to 28 years in prison for participating in a murder-for-hire scheme that led to the killings of two people at a car dealership. After serving 25 years, prison officials told Robert Glenn Ford he would be released in July under a […]
8 hours ago

Sponsored Articles

...
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

Vaccines are safe if you are pregnant or breastfeeding

Are you pregnant? Do you have a friend or loved one who’s expecting?
...
Christina O’Haver

BE FAST to spot a stroke

Every 40 seconds—that’s how often someone has a stroke in the United States. It’s the fifth leading cause of death among Americans, with someone dying of a stroke every 3.5 minutes.
...
Arizona Division of Problem Gambling

Arizona Division of Problem Gambling provides exclusion solution for young sports bettors

Sports betting in Arizona opened a new world to young adults, one where putting down money on games was as easy as sending a text message.
Germany approves billions for climate, modernization fund