Italy Plans to Join China's Belt, Road Initiative

By: Yassmine ElSayed

CAIRO,Mar. 6 (SEE) - Financial Times revealed that Italy plans to sign a memorandum of understanding to become part of China’s Belt and Road Initiative (BRI) by the end of March.

“The negotiation is not over yet, but it is possible that it will be concluded in time for (Chinese President Xi Jinping’s) visit,” the newspaper reported quoting Michele Geraci, the undersecretary in the Italian economic development ministry.’

On her part, the United States denounced the move saying that the project was unlikely to help Italy economically and could significantly damage the country’s international image, the paper reported.

“We view BRI as a ‘made by China, for China’ initiative,” the report quoted Garrett Marquis, White House National Security Council spokesperson.