Budapest has decided to block one of the key deals as part of the implementation of the European Union (EU) Global Gateway strategy (“Global Gate”), a response to the Chinese Belt and Road Initiative. The agency wrote about it Bloomberg with reference to sources.
Global Gateway is a project to expand European investments in the economies of world countries in the fields of climate and energy, transportation, health, education, science and digitalization.
The Belt and Road Program is designed to develop infrastructure that creates large-scale “economic corridors” from China to the Middle East, Africa, Southeast Asia, the South Pacific and Europe.
Hungary opposes an agreement to expand the EU’s legal relations with African, Caribbean and Pacific countries – a total of 79 countries in these regions. The document will allow investment in projects in these states. According to Bloomberg interlocutors, Budapest’s veto jeopardizes the 300 billion euros they want to send from the European Investment Bank by 2028.
In the second half of January, Polish radio station RMF FM, referring to a senior EU diplomat, knowledgeableHungary blocked the seventh tranche of EU aid for rearmament to Ukraine.