European Union plans $23 billion to check China's reach in S Africa

The EU is working on $22.7 bn financing package to support African transport networks, as well as energy, digital, education and health projects to counter China's reach in the continent.

The European Union is working on a 20 billion-euro ($22.7 billion) financing package to support African transport networks, as well as energy, digital, education and health projects to counter China’s reach in the continent. 

Member states, however, have yet to commit to financing the infrastructure plans, according to officials familiar with the discussions. 

The bloc’s plan includes strategic corridors, international submarine cables, new energy interconnections and investments in renewable sources in Senegal, Cote d’Ivoire, Egypt, Morocco and Kenya, according to a draft of the package seen by Bloomberg. 

The investment is aimed at underpinning the new partnership that the EU and Africa want