EU approves $8.7 billion of state aid for tech innovation projects


A view of a chip on an electronic device at a shop in Brussels Belgium February 8 2022. REUTERSYves Herman

A view of a chip on an electronic device at a shop in Brussels, Belgium, February 8, 2022. REUTERS/Yves Herman

BRUSSELS (Reuters) -The European Commission has approved 8.1 billion euros ($8.7 billion) of state aid for microelectronics and communication technology projects as part of the European Union's drive to be at the cutting edge of technological innovation.

The EU executive said on Thursday that 14 member countries could provide the aid to 68 projects involving companies including Airbus, ASML and Ericsson.

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