Legislative body restructures. - The state-owned bank's capital has been augmented.
The Thuringia Reconstruction Bank is poised to expand its role in boosting the region's economy and promoting the energy transition after having its capital augmented by 50 million euros. On Friday, the state legislature passed the measure with support from leftists, SPD, Greens, and the opposition CDU, while FDP and AfD abstained.
Officials from various parties anticipate that the bank's increased financial capabilities to provide low-interest loans will help fund numerous projects in Thuringia, potentially amounting to hundreds of millions of euros for modernization efforts. According to Andreas Schubert, a Left MP, this will create jobs and establish new businesses, while also aiding municipalities in transitioning to renewable energy sources.
The legislation boosting the Reconstruction Bank's capital was proposed by the coalition government of Left, SPD, and Greens. Because of Red-Red-Green not enjoying a majority in the Thuringian parliament, the coalition relied on the support from the opposition to secure the vote's passage.
