Global Gateway programme to offer emerging countries finance to offset pull of Belt and Road scheme
The EU will seek to mobilise €300bn in public and private infrastructure investments by 2027 to offer developing countries an alternative to China’s huge Belt and Road programme.
To finance the project, the EU will use its European Fund for Sustainable Development Plus, which can make available €40bn in guarantee capacity, and will offer grants of up to €18bn from external assistance programmes. Jutta Urpilainen, the EU commissioner in charge of development policy, told reporters on Wednesday that the bloc’s development assistance rivalled that of Beijing, adding that “we have been providing grants, China has provided lending”.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Govt ‘continuing its quest’ for basic income grant: Lindiwe ZuluSocial development minister Lindiwe Zulu says her department is pushing ahead with its bid to have the country pay a basic income grant to the unemployed.
Read more »
Top-secret documents at issue in former spy boss’s failed cross-examination bidState capture inquiry chair Zondo dismisses Arthur Fraser’s bid to question witnesses
Read more »
Gauteng social development compounds poverty of the most vulnerableThe 2020/21 financial year will be known as the year of the declaration of a state of national disaster by the president on March 22 2020. It will also be known as the year that the Gauteng department of social development underspent its budget by over R438m.
Read more »
Omicron delays African Development Bank investment forum in Ivory CoastAfDB postpones its annual investment forum as Covid-19 wreaking havoc with global travel
Read more »
LETTER: WHO’s credibility damagedWorld Health Organization was partial to China
Read more »