BERLIN

Germany plans to spend €166 billion ($192.5 billion) to modernize its infrastructure through 2029, the Transport Ministry announced Tuesday.

It said that the federal government will spend €107 billion on railways, approximately €52 billion for highways and €8 billion on waterways.

The money will be provided from the regular budget as well as a special fund of €500 billion allocated for infrastructure modernization.

The funds will be used, among other things, to finance the digitization of railways and maintenance of the bridge network.

The total infrastructure investments, planned at €166 billion, will be distributed equally between 2025 and 2029, amounting to €33 billion per year.