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Germany prepares € 2 billion to help startups during COVID-19 crisis

02 April 2020 07:50

JAKARTA. The German government plans to allocate € 2 billion or around US$ 2.19 billion to help startup businesses during the COVID-19 crisis.

This was said by Peter Altmaier, Federal Minister for Economic Affairs and Energy of Germany, on Wednesday as reported by Reuters. "All aid programs are available for startups, but we want to do something more," Altmaier said in a public presentation with Olaf Scholz, German Finance Minister.

The aid program, said Altmaier, will be given to startup companies that have no more options in getting debt, and those which are forced to reduce working hours.

"Therefore, we designed this € 2 billion program to help startups survive this difficult time," Altmaier explained. (KR/AR)

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