The European Commission unveiled on Wednesday a plan to invest 300 billion euros ($340 billion) globally by 2027 in infrastructure, digital and climate projects as a better alternative to China’s Belt and Road Initiative.
The scheme, called Global Gateway, is to strengthen Europe’s supply chains, boost EU trade and help fight climate change, focusing on digitalisation, health, climate and energy and transport sectors, as well as education and research.
China launched its Belt and Road project in 2013 to boost trade links with the rest of the world and has been spending heavily on the development of infrastructure in dozens of countries around the world.
