London Daily

Focus on the big picture.

EU lines up 70 projects to rival China’s Belt and Road infrastructure spending

EU lines up 70 projects to rival China’s Belt and Road infrastructure spending

Taking on China’s Belt and Road initiative, EU prioritizes 70 international infrastructure projects.

The European Union’s riposte to China’s web of trade and infrastructure projects spanning the globe is finally getting real.

Europe's flagship Global Gateway projects seek to offer developing countries an alternative to China's strategic largesse in the Belt and Road Initiative, through which Beijing projects its power along strategic trade routes via port developments, energy schemes and telecoms networks.

The first projects of EU's Global Gateway include a digital cable under the Black Sea; a submarine optical fiber cable to connect the Mediterranean and Northern African countries, and a dam and hydroelectric plant in Cameroon.

Those are just some of the 70 projects that the EU is prioritizing this year under the Global Gateway, according to a document obtained by POLITICO.

“Global Gateway is becoming concrete. Now we mean business," one senior EU official said of the project hit list.

The Global Gateway aims to mobilize up to €300 billion in public and private funds by 2027 to finance EU infrastructure projects abroad.

By comparison, China has invested nearly $2.3 trillion into nearly 4,000 overseas investment and construction projects since 2005 — giving Beijing a big head start just as the EU launches its effort to extend its economic reach.

Belt and Road projects account for around $370 billion of that, the American Enterprise Institute estimates, with the pace of outlays slowing due to the economic impact of Beijing’s policy of suppressing the coronavirus pandemic that were only eased late last year.


Project selection


The West has faced repeated criticism that its efforts to challenge the Belt and Road are too fragmented and slow.

European Commission President Ursula von der Leyen told a meeting of EU foreign ministers last month that the bloc needed to raise its game and deliver visible results on the ground. That meeting led to the selection of the first batch of projects.

"This shows what Global Gateway will look like in practice on the ground in 2023," said a second EU official.

European Commission President Ursula von der Leyen said the bloc needed to raise its game


Some of the Global Gateway projects are low-hanging fruit, with concrete steps in prospect this year such as starting construction work, signing a memorandum of understanding or lining up financing. Meanwhile, the EU will start laying the groundwork for other projects in the next coming years.

The first official stressed that the list did not reflect any geopolitical choices. "There is no political messaging behind this," the official said.

But there are some sensitive projects which may have geopolitical ramifications.

The EU has several projects planned in China's backyard, such as an energy transition partnership with Indonesia and a digital connectivity project in the Philippines. The same goes for some projects in Russia's backyard, such as a hydrogen project in Kazakhstan, a transport link in Central Asia, two projects in Mongolia and a hydro-power plant in Tajikistan.

The list of priorities was first discussed by EU diplomats last Friday. There will be further talks this week, with the aim of wrapping up the list in the week of February 6, the two EU officials said.

Newsletter

Related Articles

London Daily
0:00
0:00
Close
CIA and MI6 Chiefs Unite Amid Global Crises
UK Tycoon Mike Lynch's Cause of Death Revealed: Autopsy Report
Mass Protests Erupt Across France Against New Prime Minister Barnier
Iranian Plots to Kill Jews in Europe Unveiled
Huawei Poised for Major AI Chip Unveil at Shenzhen Event
Nvidia’s AI chips are cheaper to rent in China than US
China ends tariffs on all goods exported to China from the poorest countries in the world it has diplomatic ties with, including 33 African nations
Blinken May Not Seek Another Term Due To Family Priorities
Labour Pushes for Special Tribunal Against Russia for Ukraine Invasion
Oil Companies to Contest Judicial Review of North Sea Projects
Ed Balls Urges Keir Starmer and Rachel Reeves to Address Winter Fuel Payments Controversy
British Army Major General Dismissed for Unwanted Advances
Campaigners Urge Bold Actions to Combat Rising Heart Disease in UK
UK Requires One Trillion Pounds Investment for Economic Growth
Plan to House Asylum Seekers at Former Dambusters Home Dropped
UK Drops Indecent Assault Charges Against Harvey Weinstein
Return of Brazilian Artworks to Bahia
UK Signs Landmark International AI Treaty
Demand for Justice After Death of Ugandan Runner Set on Fire
Ukraine's Major Government Reshuffle: Andrii Sybiha Appointed New Foreign Minister
North Korea Executes Officials Over Flood Response
French Woman Testifies in Landmark Rape Trial
Sicily Yacht Disaster: Fatal Asphyxiation Claimed More Lives
Michel Barnier Appointed as Prime Minister of France
The art technique of Grandma Mei Ling, age 82
Mongolia Refuses to Arrest Putin Despite ICC Warrant
UK State Pension to Increase by Over £400 Annually
Amazon Announces 10% Pay Increase for UK Workers
Grenfell Tower Fire Inquiry Demands Swift Justice
French Police Clear Migrant Camp Near Calais
New Law Proposes Jail Time for Covering Up Sewage Dumping in England and Wales
John Swinney's Government Programme Faces Criticism in Scotland
France Pilots Mobile Phone Ban in Schools
Priti Patel Eliminated in First Round of Tory Leadership Race
And Justice for ALL: Elon Musk threatens to go after Brazilian government assets
WHO-Led Study Finds No Link Between Mobile Phones and Brain Cancer
US Charges Hamas Leaders With Terrorism Over October 7 Attack on Israel
Russian Missile Strike Kills 49 in Poltava, Ukraine
Major Cabinet Resignations in Ukraine
Tory Leadership Candidates Criticize Rivals' Promises to Leave ECHR
Campaigners Propose Pay-Per-Mile Charge for UK Electric Cars
Labour Urged to Shift Asylum Policy Rhetoric
Hossein Shamkhani: The Rise of an Oil Tycoon
Putin Defies ICC Arrest Warrant with Mongolia Visit
Frenchman On Trial for Decade-long Abuse of Drugged Wife
The British bus driver explains to usual suspects that they cannot travel without a ticket. Education is important.
Irish Police Arrest Enoch Burke, the teacher who refuses to endorse and affirm transgender ideology
US Soldier Attacked in Turkey
Switzerland Urged to Reconsider Its 500-Year Neutrality
AfD's Historic Victory in Thuringia State Election, Germany
×