EU commits to invest €45 billion in South America and the Caribbean

The European Union has committed to spending over €45 billion ($51 billion) by 2027 in investment plans for partners in South America and the Caribbean.
The EU and investment partners agreed to prioritize sectors from "clean energy and critical raw materials to health and education," European Commission President Ursula von der Leyen said on Monday.
Among the plans are an expansion of telecommunication networks in the Amazon in Brazil, 5G network development in Jamaica, the electrification of public transport in Costa Rica and investments in Lithium mines in Argentina and Chile.
Billions of euros are to be invested as part of the EU's so-called Global Gateway strategy, an initiative to link the bloc to the rest of the world and rival China's spending in global infrastructure.