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2/23, 12:38 PM (Source: TeleTrader)
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EU proposes €10B deals for green, digital transition

The European Commission announced on Tuesday it had proposed setting up ten partnerships between the European Union, its members, and the industry to "speed up the transition towards a green, climate-neutral, and digital Europe" that would make it "more resilient and competitive."

According to the proposals, the EU would invest nearly €10 billion in those cooperations, while the partners "will match with at least an equivalent amount." "This combined contribution is expected to mobilize additional investments in support of the transitions, and create long-term positive impacts on employment, the environment and society," the commission stated.

The announcement comes after European Commission President Ursula von der Leyen urged the bloc and the United States to create a "digital economy rulebook." Meanwhile, she said the EU was working on a Single Market Emergency Instrument to "avoid future disruption" in its economy in situations similar to the ongoing COVID-19 pandemic.

Breaking the News / JR