EU launches infrastructure drive as ‘true alternative’ to China’s Belt and Road Initiative

The European Union unveiled its long-awaited infrastructure drive on Wednesday, with European Commission President Ursula von der Leyen pitching it as a “true alternative” to China’s Belt and Road Initiative.The plan, known as the Global Gateway, promises to mobilise up to €300 billion (US$340 billion) between 2021 and 2027 for modern infrastructure projects outside the EU, covering items such as fibre optic cables, clean transport corridors and clean power transmission.The 14-page document…

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