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Graphic shows details of China’s Belt and Road Initiative projects.
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BUSINESS

Multi-billion EU bid to challenge Chinese influence

December 1, 2021 - The European Union on Wednesday unveiled a multibillion-euro global investment plan that is widely seen as a rival to China’s Belt and Road Initiative.

The programme will invest up to 300 billion euros ($340 billion) globally by 2027 in infrastructure, digital and climate projects as a better alternative to China’s strategy, Reuters said.

European Commission President Ursula von der Leyen said the so-called “Global Gateway” scheme should become a trusted brand.

Sources
PUBLISHED: 01/12/2021; STORY: Graphic News
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