Italy plans to propose to its European partners a guarantee scheme that could potentially trigger investments worth up to 200 billion euros ($216.48 billion) in the defence and aerospace industries, people familiar with the matter said.

Italy aims to propose a guarantee scheme to European partners, potentially triggering €200 billion in investments in the defence and aerospace sectors. Economy Minister Giancarlo Giorgetti will present the plan to EU finance ministers,

Italy has proposed to its EU partners a common guarantee scheme triggering defence and aerospace private investments in the bloc worth up to 200 billion euros ($216.48 billion), while limiting any impact on state coffers.