LISBON, Portugal (AP) — Portugal is embracing China's "One Belt, One Road" initiative, which offers loans for the building of large-scale infrastructure projects.
Despite wariness in other European Union capitals about Beijing's strategy, the Portuguese government has wholeheartedly endorsed the scheme during a 24-hour state visit by Chinese President Xi Jinping.
The two countries signed Wednesday a memorandum of understanding on cooperation within China's modern Silk Road initiative, with special emphasis on transport connections and energy.
Xi described Portugal as "an important hub in the land and maritime silk routes."
The Portuguese government wants China to help develop Portugal's biggest Atlantic port and expand national energy company Energias de Portugal overseas, among other things.
The two countries signed 17 cooperation agreements. They included deals on joint technological research in the energy and communications sectors.
