German investment drive

Germany is planning to raise 89 billion euros ($109 billion) for investment projects within a European Union-wide offensive to fuel sluggish growth and create more jobs, the Süddeutsche Zeitung daily reported Monday, referring to a list of government priorities it had been able to analyze.

It says the list makes it abundantly clear that Berlin aims to focus on promoting faster Internet connections across the country, including underprivileged rural areas. The plan is to use initial public incentives in order to have private companies invest some 24 billion euros in that field over the next couple of years.

Another 13.5 billion euros are to be spent on projects in support of wind energy in the country. Ten billion more euros will be channeled toward extending Germany's Autobahn highway network, the daily reported.

Berlin and Paris to cooperate

Süddeutsche said the list comprised altogether 58 projects as Germany's contribution to an EU investment plan which is to be backed by 60 billion euros in loans from the European Investment Bank (EIB) and some 250 billion euros to come from the private sector.

Germany and France had recently announced they'd also launch a number of joint investment projects to help kickstart growth in the 28-member bloc and reduce unemployment.

According to Süddeutsche, France as the eurozone's second-largest economy is willing to make investments worth 145 billion euros within the EU offensive.