Home World The EU launches Global Gateway to counter the Chinese Silk Road

The EU launches Global Gateway to counter the Chinese Silk Road

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BRUSSELS – In an attempt to give itself a new foreign policy instrument, the European Commission, which is desired geopolitics, presented on Wednesday 1 December an initiative entirely dedicated to infrastructural investments worldwide. The aim is to improve trade links and counter the growing international presence of China or of the Russia. The EU executive hopes to mobilize public and private investments worth € 300 billion between 2021 and 2027.

“We will support smart investments in quality infrastructures, respecting the highest social and environmental standards, in line with the democratic values ​​of the European Union and with international standards – explained Commission President Ursula von der at a press conference here in Brussels. Leyen -. The strategy Global Gateway it must be understood as a model for how Europe will be able to finance connecting infrastructures all over the world ”.

Five priority areas

Five sectors will be rewarded by EU investments: digital, environment and energy, transport, health, research and education. The projects will be identified and negotiated with the local authorities by the European delegations present in third countries. Unlike other schemes of the past, the Global Gateway has a global look and no longer just a regional one, as for example the infrastructural initiatives dedicated to the Balkans had.

“The Global Gateway foresees an increase in investments that promote democratic values ​​and high standards, good governance and transparency, fair partnerships, green and clean, safe infrastructures and that mobilize private sector investments”, assures Brussels. All the main EU institutions will participate in the funding, including the European Investment Bank (Bei) e la European Bank for Reconstruction and Development (Bers).

“We will not leave a trail of debt”

The new initiative comes after China launched a project called in 2013 Belt & Road Initiative, with the aim of improving connections between the Asian country and the rest of the world. According to Chinese government figures, Beijing has so far invested 140 billion euros. The European Commission denies any explicit attempt to counter Chinese policies, even though the president stressed that Europe does not intend to “leave a trail of debts in third countries”.

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