Can the EU’s global investment scheme rival China’s Belt and Road? 09.12.2021

Deutsche Welle | Dec 9, 2021 at 1:00 AM
  • Earlier this month, the European Union announced details for its new global investment scheme, dubbed the “Global Gateway,” which aims to mobilize up to €300 billion ($339 billion) in infrastructure investments abroad by 2027.
  • Through a combination of EU funds, member state investments and capital raised by European investment banks, the scheme has been presented by Brussels as a big step for the EU in building influence around the world.
  • Although the EU did not explicitly mention China in presenting the strategy, the investments are aimed at developing regions such as in Southeast Asia, where a majority of big infrastructure investments in recent years have come via China’s vast Belt and Road Initiative (BRI).