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VdL Outlines Europe's EUR300bn 'Global Gateway' Programme

EU

European Commission President Ursula von der Leyen has outlined the bloc's plans for a major global infrastructure investment programme - known as the 'Global Gateway' - which is intended to compete with China's long-established 'Belt and Road' plan.

  • The programme of spending will deliver EUR300bn over five years, compared to EUR800bn from China's Belt and Road over a period of 10 years.
  • Jessica Parker at BBC tweets some of VdL's comments: "Investment choices for countries are currently "relatively limited" says VdL. "Too often" those choices come with "a lot of small print" with big financial, political and social consequences. Commission Chief says #GlobalGateway will be a "positive offer". [...]The EU aims to raise up to 300bn euros, 2021 - 2017. "Such funds cannot be found from the EU budget alone,"
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