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Germany pledges 2 billion euros to help start-ups through coronavirus crisis

BERLIN (Reuters) – Germany is planning to allocate 2 billion euros ($2.19 billion) to help support start-ups during the coronavirus crisis, Finance Minister Olaf Scholz said on Wednesday.

“All the normal aid programs are of course also available to start-ups but we also want to do something for companies that have fewer options for obtaining credit lines and who benefit less from short-time working,” Economy Minister Peter Altmaier told reporters during a joint statement with Scholz.

“That’s why we have come up with this tailored 2 billion euro program which will help start-ups to survive this difficult time,” he said.

(Writing by Paul Carrel and Thomas Escritt; Editing by Michelle Martin)