EU unveils ‘Global Gateway’BloombergThe EU is seeking to mobilize 300 billion euros (US$340 billion) in public and private infrastructure investments by 2027 to offer developing countries an alternative to China’s Belt and Road Initiative. The EU’s “Global Gateway” project, unveiled yesterday, outlines spending on digital infrastructure, transport, energy and health projects. Photo: AFP“The EU will offer its financing under fair and favorable terms in order to limit the risk of debt distress,” the European Commission said in a statement. “Global Gateway has the potential to turn the EU into a more effective geopolitical player,” German Ambassador to the EU Michael Clauss said. “For many partner countries, the offer of a rules and values-based cooperation at eye level will be an attractive alternative to the Chinese Belt and Road initiative.”

Source: Taipei Times December 02, 2021 12:06 UTC