Today: 11 July 2025
2 December 2021
1 min read

EU rolls out massive infra plan to counter China

European Commission President Ursula von der Leyen said the global gateway scheme should become a trusted brand to challenge China’s expanding influence…reports Asian Lite News

The European Union (EU) has revealed details of a $340 billion global investment plan, described as a “true alternative” to China’s Belt and Road strategy, the BBC reported.

European Commission President Ursula von der Leyen said the global gateway scheme should become a trusted brand.

China has funded rail, roads and ports, but has been accused of leaving some countries saddled with debt.

The Commission chief said countries need “trusted partners” to design projects that are sustainable, the report said.

The EU is looking at how it can leverage billions of euros, drawn from member states, financial institutions and the private sector.

Leyen said the projects had to be of high quality, with a high level of transparency and good governance, and had to deliver tangible results for the countries involved, she explained. One EU official told the BBC that Africa would be a major focus of the scheme.

China’s strategy has reached Africa, Asia, the Indo-Pacific and the EU too. China’s Cosco company owns two-thirds of the huge Greek container port at Piraeus and the China Road and Bridge Corporation has built a key bridge in Croatia.

“When it comes to investment choices,” said the Commission President, “The few options that exist too often come with a lot of small print which includes big consequences, be it financially, politically but also socially.”

Projects had to be of high quality, with a high level of transparency and good governance, and had to deliver tangible results for the countries involved.

ALSO READ: MI6 head warns of China’s ‘traps’

Previous Story

‘A well-thought-out strategic vision for next 50 years’

Next Story

‘Challenges never deterred us from pursuing our path’

Latest from -Top News

Masdar powers ahead in UK

€15 billion clean energy alliance powers ahead with East Anglia THREE investment and Baltic Eagle energisation….reports Asian Lite News Masdar, the UAE-based global clean energy powerhouse, and Iberdrola, one of the world’s

Indian Doctor Gets Top Sharjah Award

The award was presented by His Highness Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah. In a moment of immense pride for the Indian diaspora, renowned paediatrician-turned-entrepreneur Dr.

Peace talks in the desert

President H.H. Sheikh Mohamed reiterated the UAE’s unwavering support for initiatives aimed at fostering sustainable peace, dialogue, and development in the South Caucasus. He also applauded the willingness of the Armenian and

World’s energy thirst to grow: OPEC

UAE sticks to 5 million bpd oil output goal as OPEC launches new World Oil Outlook at Vienna seminar…reports Asian Lite News Haitham Al Ghais, Secretary-General of the Organisation of the Petroleum

Red Sea Warzone

Iran-backed rebels intensify maritime assaults in support of Gaza; US and EU condemn abductions, Israel intercepts missile….reports Asian Lite News The Iran-aligned Houthi rebels have stepped up their maritime offensive in the
Go toTop

Don't Miss

China conducts 1st underwater explosion test

Organised by an institute under the PLA Naval Research Academy,

China marks 50 years at UN

Upon the 50th anniversary of the restoration of its lawful