With 300 billion euros, the EU wants to create a “global portal” to counter China

With 300 billion euros the EU wants to create a

The European Commission unveiled on Wednesday 1 December an investment plan of 300 billion euros worldwide for the next six years. Caught up in the Sino-American economic tug-of-war, the EU is trying to exist.

With our correspondent in Brussels, Pierre Benazet

According to the President of the European Commission Ursula von der Leyen, the pandemic has highlighted in a glaring way around the world the shortages in supply of drugs, the logistical challenges or the needs and delays in terms of infrastructure.

The project is to be financed over six years, more than half by direct investments from the common budget of the Union and around 140 billion euros by loans from EU financial institutions.

These projects will concern health, digital technology and education, as well as transport, energy and research.

A “geopolitical” Europe

It is an offer to build ” peer-to-peer partnerships »Insists the commission. It emphasizes the fact that it wants to promote projects that fall within the objectives of sustainable development, which promote democracy and social rights. In other words, the opposite model of investments made by China around the world.

The Chinese initiative ” the belt and the road “, The official name of the” New Silk Roads “, has already amounted to more than 124 billion euros in eight years. The envelope of 300 billion euros over six years for this ” global portal Of the European Union seems destined to make up for this delay.

Ursula von der Leyen had promised that her mandate would mark the advent of a commission “ geopolitics “. This “ global portal For development is presented as a way of going beyond the cliché of a Europe described as an economic giant and a political dwarf.

To read also: Infrastructures: the G7 wants to counter China and its “New Silk Roads”