German Finance Minister Christian Lindner said on Wednesday that there is no need for new European Union investment programs like the STEP fund to boost investment in critical technologies. Lindner made this statement during a session of the Bundestag lower house of parliament. He argued that the European Commission’s proposed STEP fund, which aims to generate 160 billion euros of investment by leveraging existing budget funds and an additional 10 billion euros, is unnecessary as there are already other possibilities for financing, such as the Next Generation EU program. While Lindner rejected additional funding for critical technologies, he emphasized the importance of continuing to support Ukraine’s financing needs as an exception in the EU budget. However, he also noted that the financing of Ukraine should be separated from the EU’s mid-term financial plans. The current exchange rate is $1 = 0.9486 euros. This news article was reported by Maria Martinez and edited by Miranda Murray. The Thomson Reuters Trust Principles apply to this news article. To acquire licensing rights, please visit this link: Acquire Licensing Rights.
