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AP National Business

EU set to unveil massive worldwide infrastructure plan

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Published 8:14 AM

By SAMUEL PETREQUIN
Associated Press

BRUSSELS (AP) — The European Union will unveil a multibillion-euro plan aimed at bolstering the 27-nation bloc’s worldwide infrastructure and influence. The program to be revealed Wednesday is expected to mobilize up to 300 billion euros in public and private funds by 2027. Although the European Commission doesn’t present the project as an attempt to counter China’s massive infrastructure initiative seeking to connect Asia with Africa and Europe, the German ambassador to the EU said the so-called Global Gateway “has the potential to turn the EU into a more effective geopolitical player.” The EU is China’s biggest trading partner, but they are also economic competitors and strategic rivals. 

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