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EU announces $340bn 'Global Gateway' plan Updated: 2021-12-02 08:11:27 KST

The European Commission is rolling out a massive international infrastructure plan dubbed "Global Gateway", which aims to mobilize 340 billion U.S. dollars in public and private infrastructure investment.
The plan announced on Wednesday will invest funds between 2021 and 2027, by pulling together "resources of the EU, member states, European financial institutions and national development finance institutions."
The "Global Gateway" also looks to spread European technology and expertise into developing countries.
The move is largely being seen as Europe's effort to challenge China's heavily-criticized Belt and Road Initiative.
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