The European Union on Wednesday is set to unveil a multibillion-euro plan aimed at bolstering the 27-nation bloc’s worldwide infrastructure and influence.
The program is expected to mobilize up to 300 billion euros (USD 341 billion) in public and private funds by 2027.
Although the European Commission, the EU’s executive branch, does not present the project as an attempt to counter China’s massive infrastructure initiative seeking to connect Asia with Africa and Europe, the German ambassador to the EU said the so-called Global Gateway has the potential to turn the EU into a more effective geopolitical player.
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, Michael Clau said.
