Germany plans to spend up to 2.861 billion euros to ensure that Covid-19 vaccine makers have enough production capacity available to supply the country with shots in future outbreaks through 2029, the economy ministry said.

Germany's cabinet approved plans to sign contracts with BioNTech, CureVac/GSK , Wacker/CordenPharma, Celonic and IDT, the ministry said in a statement.

The contracts will maintain the ratcheted-up production capacities created during the coronavirus pandemic by paying an annual standby fee, ensuring enough vaccine can be produced quickly for the population.