EU launches infrastructure drive as ‘true alternative’ to China’s Belt and Road Initiative

Global Gateway plan promises to mobilise up to €300 billion (US$340 billion) between 2021 and 2027 for modern infrastructure projects outside the bloc

‘Countries made their experience with the Chinese investments. They need better and different offers,’ says European Commission President Ursula von der Leyen

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President of the European Commission Ursula von der Leyen in Brussels, Belgium on Wednesday. Photo: EPA-EFE

Published: 2:23am, 2 Dec 2021Updated: 3:37am, 2 Dec 2021

The European Union unveiled its long-awaited infrastructure drive on Wednesday, with European Commission President Ursula von der Leyen pitching it as a “true alternative” to China’s Belt and Road Initiative.

The plan, known as the Global Gateway, promises to mobilise up to €300 billion (US$340 billion) between 2021 and 2027 for modern infrastructure projects outside the EU, covering items such as fibre optic cables, clean transport corridors and clean power transmission.

The 14-page document does not mention China by name, but at a press conference in Brussels, von der Leyen left little doubt that Beijing was in her thoughts.

“Yes definitely,” she said when asked if it could compete with the Belt and Road Initiative (BRI). “We are able to do that. Countries made their experience with the Chinese investments. They need better and different offers.”

Peter Marki-Zay, opposition candidate for prime minister in next year’s Hungarian election, had said that he would review and revisit what he called expensive Chinese loans disbursed under the BRI if he wins. Photo: AP

“And we bring on top the private sector with us – a private sector that in such a way does not exist in China,” von der Leyen added, saying it was a “true alternative”.