Italy announced it will set up a €1-billion ($1.1 billion) sovereign fund to channel funding to companies it deems strategic, furthering Premier Giorgia Meloni’s vision to shore up domestic production and secure key supply chains. The fund wants to “stimulate the growth and consolidation of national strategic supply chains, also for the procurement of critical raw materials,” according to a statement by Italy’s industry ministry. It was approved during a cabinet meeting Wednesday and is part of a draft law aimed at promoting ‘Made in Italy’. The draft still requires parliamentary approval and might change. The fund ... (full story)