The German government plans to generate up to 11 billion euros ($13 billion) for clean transportation and renewable energy projects this year by issuing so-called green bond.
The step is part of an effort to meet demand for environmentally friendly investments and follows the path already taken by other countries, including neighboring France and The Netherlands.
The government has identified spending of over 12.7 billion euros that would meet the criteria of green investment, Germany’s deputy finance minister Joerg Kukies said.
Germany’s state-owned KfW bank and several municipalities have already issued their own green bonds.
(AP)
