According to media reports, the EU’s foreign ministers plan to call for faster progress on the European “connectivity initiative” next week. Its intent is to counter China’s “New Silk Road”. A so-called conclusion of the Council of EU Foreign Ministers next Monday will call for a “geostrategic approach to connectivity.” A target for “globally visible high-impact projects and actions” is also to be set, the Financial Times reported on Monday, citing EU sources. According to the report, the conclusion also suggests a joint push by EU capitals with national development banks, the European Investment Bank and the European Bank for Reconstruction and Development to provide funding for projects. These should also be included in the EU’s multi-year financial framework from 2021 to 2027, the newspaper quotes from the draft conclusion.
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