Germany’s Cabinet has approved a plan to spend up to €40 billion ($44.4 billion) by 2038 to cushion the impact of abandoning coal on mining regions, known as the “Energiewende.”
Economy Minister Peter Altmaier said funds will start flowing once parliament has passed separate legislation setting out the dates and terms of Germany’s exit from coal.
The money will be used to finance projects such as expanding broadband access and transport infrastructure and locating research institutes and federal authorities in the affected regions.
