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Europe's alternative to the Chinese Silk Roads

2021-12-01T19:18:58.871Z

STORY - The Commission wants to mobilize 300 billion euros of public and private funds for greener and more social projects in emerging countries.



"It's a real alternative."

Ursula von der Leyen on Wednesday presented the European strategy aimed at countering the new Chinese Silk Roads.

Her name?

Global Gateway, "global portal".

The aim is to mobilize up to 300 billion euros by the end of 2027, to finance

"investments in digital technology, health, the climate, the energy and transport sectors

outside the EU.

" as well as education and research ”.

Most of this money will probably go to physical infrastructure to strengthen digital, transport and energy networks.

Sphere of influence

To do this, the Commission is ready to devote up to 135 billion euros, thanks to a guarantee of 21.1 billion.

This amount would be supplemented by 145 billion brought in by the EIB and the Berd, by the development banks of the Member States and by the private banks of the Union.

In addition, 18 billion in subsidies from European funds.

In fact, part of these 300 billion has now

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Source: lefigaro

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