Fitch: German Muni Funding Proposal Shows Federal Support

April 9, 2015 8:09 AM

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(The following statement was released by the rating agency) LONDON, April 09 (Fitch) A new draft law that would see the German Federal government extend funds to financially weak municipalities, underlines the strong support mechanism between Germany's Federal government and its local and regional governments, Fitch Ratings says.

The draft law, agreed by the Federal Cabinet last month, would earmark EUR5bn of federal funds for the municipalities in 2015-2018. Most (EUR3.5bn) would be designated for infrastructure investment in 2015-2018 while EUR1.5bn would be provided in 2017 for other investments. Municipalities will also ...

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