China will pledge a multi-billion dollar investment in Europe's new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters - Beijing's latest round of chequebook diplomacy to win greater influence.
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European Union rules banning state aid to businesses should not apply to guarantees issued to boost investment under the three-year EU investment scheme, some of the key contributors to the plan said on Monday.
EU finance ministers agreed the details of a 315 billion euro ($338 billion) investment plan on Tuesday to help revive the European economy without piling up more debt, and now aim to get the first projects going by the end of the year.
European Union leaders endorsed a new investment programme intended to kick-start economic growth in the bloc at a summit in Brussels, which its chairman said would end late on Thursday, half a day earlier than planned.
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