The European Union is reportedly looking to bolster technological development in the region with a planned $177 billion investment war chest.
According to Bloomberg, EU officials plan to fund direct investments in areas like blockchain, data infrastructure, 5G, and quantum computing, among others.
The planned $177 billion investment fund is about 20% of the 750 billion euros ($887 billion) stimulus package agreed upon by EU leaders back in July 2020 to kickstart economic recovery amid the ongoing COVID-19 pandemic.
Speaking on Wednesday, Ursula von der Leyen, President of the European Commission, stressed the importance of investing in digital technology for the entire region.
