Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

EU to launch Global Gateway projects, “challenging” China’s Belt and Road

EU Officials finalize project details, amid reports that Beijing is slowing investment approvals. However, its not clear what Europe wants to build for others, while it failed to build it's own economy. It is not clear yet if it's a real project or yet just another channel to transfer EU money to EU officials, family and friends’ pockets.

The European Union's competition with China's Belt and Road will heat up early next year — with top officials convinced that the new flagship infrastructure projects would offer the developing countries a viable alternative.

EU officials responsible for the Global Gateway initiative are finalizing details for the selected projects, amid reports that Beijing is slowing investment approvals due to the sluggish global economy.

Over the last decade, Beijing has vastly developed networks of trade, transport hubs and energy routes under the Belt and Road initiative, while Huawei Technologies and other Chinese tech companies have invested heavily in the digital infrastructure of countries in Africa, Latin America and Southeast Asia.

European Commission President Ursula von der Leyen called at a recent meeting to bring visibility to the scheme, which aims at mobilizing up to €300 billion in public and private funds by 2027 to finance EU infrastructure projects abroad.

"We want to position Europe in a more competitive international environment. Global Gateway is therefore also about delivering visible results on the ground," she told officials in charge of the initiative, according to excerpts of her remarks seen by POLITICO.

"We suffer from a lack of visibility and recognition," she added. "We remain very fragmented between various Team Europe operators, and we still shy away from delivering visible hard infrastructure projects."

Citing a survey, von der Leyen said: "When asked in 2020 which partner had the most positive influence on their countries, only 10 percent of Africans mentioned the EU. Forty-seven percent said China."


Fragmented, slow


The remarks come on top of criticism that the West has repeatedly promised to challenge China's Belt and Road investments, but that the effort is too fragmented and slow.

In a joint interview with POLITICO, the EU's top civil servants in foreign policy and international development vowed that the EU would present a credible, competitive alternative to the Belt and Road.

"Once we will have rolled out much more substantially the concept of Global Gateway," it will prove to be an "attractive" option — "exactly as Belt and Road has been seen with all the negativity, if I may, with all the problems that it was creating," said Stefano Sannino, secretary general of the European External Action Service.

Koen Doens, the European Commission's director general for international partnerships, echoed the optimism. "Precisely the idea of now choosing a number of Global Gateway projects that we can put in the shopping window is to show how to a certain extent, it's also different ... Quantity matters, but quality matters as well," he said.

A concrete example is the EU's partnership with Namibia, which is key to Brussels' search for more sources of renewable energy and raw materials. The partnership will develop infrastructure to produce green hydrogen for export via the port of Walvisbaai, as well as local training and cooperation on research and innovation. "It perfectly merges what Namibia considers as being its strategic interest with what Europe considers as being a very important strategic investment for us," Doens added.

For the EU — and especially Doens' department — Global Gateway marked a paradigm shift. Traditionally, the bloc has focused on aid in its partnerships with developing countries. Making strategic investments, on the other hand, involves identifying Europe's needs, involving the private sector and a mindset to actively compete with other powers like China. That required a shift, Doens said, "not just in Brussels, but also in the other capitals of Team Europe."

The EU's external action service is not in the lead for Global Gateway. But Doens and Sannino shrugged off rumors about intra-institutional competition on the project, and their joint interview sends that message both internally and externally. "It has always been my philosophy: we work together, we don't work against [each other]," Sannino said.

AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Hungary Ranked Among the World’s Safest Travel Destinations for 2025
G7 Leaders Fail to Reach Consensus on Key Global Issues
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Man Convicted of Fraud After Booking Over 120 Free Flights Posing as Flight Attendant
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Beata Thunberg Rebrands as Beata Ernman Amidst Sister's Activism Controversy
Hungarian Parliament Approves Citizenship Suspension Law
Prime Minister Orbán Criticizes EU's Ukraine Accession Plans
Hungarian Delicacies Introduced to Japanese Market
Hungary's Industrial Output Rises Amid Battery Sector Slump
President Sulyok Celebrates 15 Years of Hungarian Unity Efforts
Hungary's Szeleczki Shines at World Judo Championships
Visegrád Construction Trends Diverge as Hungary Lags
Hungary Hosts National Quantum Technology Workshop
Hungarian Animation Featured at Annecy Festival
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
UK and EU Reach New Economic Agreement
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Austrian School Shooting Leaves Nine Dead in Graz
Bezos's Lavish Venice Wedding Sparks Local Protests
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Germany Moves to Expedite Migrant Deportations
US Urges UK to Raise Defence Spending to 5% of GDP
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Low Turnout Jeopardizes Italy's Citizenship Reform Referendum
Transatlantic Interest Rate Divergence Widens as Trump Pressures Powell
EU Lawmaker Calls for Broader Exemptions in Supply Chain Legislation
France's Defense Spending Plans Threatened by High National Debt
European Small-Cap Stocks Outperform U.S. Rivals Amid Growth Revival
Switzerland Proposes $26 Billion Capital Increase for UBS
×