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> Over the next two years, it plans to raise €3bn — that averages out as €125m a month for everyone keeping score at home

The EU pledged €2bn so it's mostly government funding. Imagine burning €125m in public money every month.

The 2bn from the EU is not earmarked for Evroc, I understood that it was a general allocation (though perhaps they expect to get a lot of it).

The EC wants to invest 2b€ in the sector in general, not in the company specifically