Germany approves billions for climate, modernization fund

BERLIN (AP) — The German government has approved 60 billion euros in funding to be used for combating climate change and modernizing the country. The new finance minister on Monday described the move as a “booster” for Europe’s biggest economy. The supplementary budget approved by the 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. The finance minister said that the decision doesn’t involve running up any more new debt.