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Asharq Al-Awsat
Asharq Al-Awsat
Technology
Asharq Al-Awsat

New European Tech Fund to be Launched Tuesday

European Union Le Maire France Bruno Le Maire United States
French Finance Minister Bruno Le Maire. Reuters

French Finance Minister Bruno Le Maire said a new European technology fund would be officially launched on Tuesday, with a value of around 1 billion euros ($1.1 billion), enabling the European tech sector to compete with US and Asian rivals.

Le Maire announced this new fund on Monday as he spoke at an event on France's digital policy plans, with France having taken over the European Union's presidency over the next few months.

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