The EU is to release details of a global investment plan, seen as a rival to China’s Belt and Road initiative
Insiders of the project say it’ll set out “concrete” ideas on digital, transport, climate and energy schemes.
It’s regarded as part of the West’s efforts to counter Chinese influence in Africa and elsewhere.
European Commission President Ursula von der Leyen will present the “Global Gateway” initiative on Wednesday
The EU is looking at how it can leverage billions of euros, drawn from member states, financial institutions and the private sector.
Mrs von der Leyen said in her State of the Union speech in September: “We want investments in quality infrastructure, connecting goods, people and services around the world.”
Wednesday’s 14-page document isn’t likely to explicitly pitch itself as a rival to China’s strategy. The Commission also studiously avoided mentioning China when pressed about the plans on Tuesday.
But Andrew Small, a Senior Transatlantic Fellow at the German Marshall Fund, says the backdrop is inescapable: “Global Gateway wouldn’t exist if you didn’t have Belt and Road.”
