Italy is considering borrowing from China’s Asian Infrastructure Investment Bank as part of plans to become the first G7 country to endorse Beijing’s contentious “Belt and Road” global investment programme.
The two countries are planning to “explore all opportunities for co-operation” in Italy and “third countries”, according to the five-page draft accord obtained by the Financial Times. The wide-ranging agreement would span areas including politics, transport, logistics and infrastructure projects.
In a departure from previous Belt and Road Initiative accords, the two countries would “work together with the Asian Infrastructure Investment Bank (AIIB)”, according to the working document.
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