European companies 'would love to be more involved in the Belt and Road Initiative, but we need a little bit more information,' said European Commission Vice President Maros Sefcovic.
European banks and companies may be interested in participating in China's major globe-spanning investment initiative — but first, they need to actually learn more about its details, according to a top European Union official.
The worries about the financing approaches of the initiative come in the wake of several countries canceling or seeking to renegotiate their Belt and Road projects because of concerns about establishing onerous debt to Chinese sources. Notably, Sri Lanka relinquished a strategic port to Beijing in 2017 after it couldn't pay off its debt to Chinese companies."I believe will solve them to the satisfaction of European companies, to the financing side of these deals," he said.
While the EU pursues that angle, Washington is taking a decidedly different approach: It didn't send a delegation to this week's Beijing forum because it has regularly expressed concerns about Xi's signature initiative.
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