LISBON, Portugal | China strengthens foothold in EU with Portugal agreements

5Dec - by Editor - 0 - In STL.News



LISBON, Portugal — Portugal is embracing China’s “One Belt, One Road” initiative, which offers loans for the building of large-scale infrastructure projects.

Despite wariness in other European Union capitals about Beijing’s strategy, the Portuguese government has wholeheartedly endorsed the scheme during a 24-hour state visit by Chinese President Xi Jinping.

The two countries signed Wednesday a memorandum of understanding on cooperation within China’s modern Silk Road initiative, with special emphasis on transport connections and energy.

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