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The EU drafts billion euro fund to strengthen competitiveness

Brussels is currently drafting a multi billion investment fund with a purpose to strengthen specific industries that lag behind global competitors.

Photo: Sascha Steinach/UDL

To improve certain industries’ competitiveness, the EU plans to launch a multi billion investment fund, writes the Financial Times.

The fund is a sovereign wealth fund financed by member nations and according to internal documents accessed by the Financial Times, the fund’s goal is to reach EUR 100bn.

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