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EU pledges 10-billion-euro infrastructure investment in Southeast Asia

2022-12-16 08:38:19       source:CGTN

December 15, 2022

The European Union (EU) has pledged to mobilize 10 billion euros (10.6 billion U.S. dollars) by 2027 to accelerate infrastructure investments in the Association of Southeast Asian Nations (ASEAN).

At the EU-ASEAN Commemorative Summit held on Wednesday, the EU and its member states offered the financial support that will focus on the green transition and sustainable connectivity in South-East Asia, underpinned by the Sustainable Connectivity Initiative and the Green Team Europe Initiative.

The investments will focus on energy, transport, digitalization, education and the promotion of trade and sustainable value chains, the European Commission said in a statement. The funds will support Southeast Asia's transition to a green economy, better access to essential services, and economic opportunities and jobs.

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