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EU launches €300bn fund to challenge China’s influence
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The EU’s plan to invest €300bn (£255bn) in global infrastructure will be better than China’s belt and road initiative, the European Commission president has said, as she announced a strategy to boost technology and public services in developing countries.
Ursula von der Leyen said the EU’s global gateway strategy was a positive offer for infrastructure development around the world and based on democratic values and transparency.
China’s belt and road initiative, often described as a 21st-century silk road, has enabled Beijing to extend its international influence by investing in more than 70 countries, accounting for half the world’s population and a quarter of GDP. Forecast to cost up to $1.3tn, it has helped countries in Asia, Africa and
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