Italy announced it will set up a €1-billion ($1.1 billion) sovereign fund to channel funding to companies it deems strategic, furthering Premier Giorgia Meloni ‘s vision to shore up domestic production and secure key supply chains
Italy’s cabinet on Wednesday approved a bill to create a fund to support domestic firms, the industry minister said in a statement, in a move aimed at shoring up strategic supply chains.
The upcoming national strategic fund for “Made in Italy” products will have an initial endowment of 1 billion euros ($1.10 billion) in state cash, the statement said, adding it would also aim to boost procurement of “critical raw materials.”