Asian Infrastructure Investment Bank and Greece China

Greece China: It is expected to come with a request for return investment in China westward infrastructure drive — the One Belt, One Road initiative — constructing major energy and communications links across Central, West and South Asia to as far as Greece, according to The Japan Times. China announced that it would make available for co-financing strategic investment of common interest across the EU, the draft final statement says, adding that agreements will be finalized at another meeting in September. While the exact amount is still to be decided, the pledge will mark the latest step in China efforts to shape global economic governance at the expense of the United States, and follows major EU governments’ decision to join the Chinese-led Asian Infrastructure Investment Bank in defiance of Washington. An EU diplomat said the Chinese contribution was likely to be in the billions. Chinese Premier Li Keqiang, who will attend the summit in Brussels, will agree with EU leaders that the €315 billion fund will create opportunities for China to invest in the EU, in particular in infrastructure and innovation sectors. EU and Chinese officials have told Reuters that Chinese banks are looking mainly at telecoms and technology projects. (news.financializer.com). As reported in the news.