Sunday, September 24, 2023

US and EU announce two mega infrastructure projects to rival China’s New Silk Road

The United States and the EU announced this Saturday the launch of two new projects, the India-Middle East-Europe Economic Corridor and the Trans-African Corridor, both framed within the Partnership for Global Infrastructure and Investment launched two years ago.

The first consists of an extensive project to connect Europe with the Middle East and India by rail and sea, Biden explained from New Delhi, where the G20 summit was held.

“We will invest in ships and trains from India to Europe through the United Arab Emirates, Saudi Arabia, Jordan and Israel. We will build bridges between the two continents to open endless opportunities through greatly facilitating trade, exporting clean energy, improving access to reliable clean electricity, laying cables that connect communities to the Internet, to contribute to a more stable, more a prosperous and united Middle East, “Biden emphasized in the statements reported by the EP. In particular, it will allow hydrogen to be transported from Israel to Europe.

For her part, the president of the European Commission, Ursula von der Leyen, highlighted the “historic” nature of the project, which will facilitate trade between the EU and India by 40%.

Regarding the Trans-African Corridor, the White House emphasized that it is a public-private project in which the European Union also cooperates. “We will invest in a new railway between the western port of Angola, the Democratic Republic of Congo, Zambia and up to the Indian Ocean,” Biden explained.

“It’s not just about laying roads. It’s about creating jobs, increasing trade, strengthening supply lines, connectivity, laying the foundations to strengthen trade and food security for people in different countries. This is a regional investment that represents a before and after,” Biden said.

China’s New Silk Road is financing infrastructure projects around the world and closing important deals with most Arab countries. This initiative has become one of the workhorses of the rivalry between China and the United States.

World Nation News Desk
World Nation News Desk
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