France plans 1.8 billion euro support for cloud computing industry

FILE PHOTO:French Junior Minister for Digital Transition and Electronic Communication Cedric O delivers a speech during a news conference on the new anti-coronavirus disease (COVID-19) measures, at the Hotel Matignon in Paris, France October 22, 2020. Ludovic Marin/Pool via REUTERS

PARIS (Reuters) - France announced on Tuesday a 1.8 billion euro ($2.1 billion) support plan for the country's cloud computing industry in a bid to give French companies in the sector global scale.

The plan consists of 667 million euros of public financing, 444 million of European Union financing and 680 million euros of private co-financing, the government said in a statement.