Italy has withdrawn from China’s “Belt and Road Initiative.”

The administration of Italian Prime Minister Giorgia Meloni informed Beijing about the early termination of participation in the Chinese initiative “One Belt, One Road” at the end of the year, this is reported by the railway transport news portal Railway Supply.

Italy was the only major Western country to join one of China’s most ambitious trade and infrastructure projects in 2019, drawing sharp criticism from the US and other nations.

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The initiative aimed to invest around $1 trillion in Asia and Europe, connecting China with Europe and other parts of Asia through new and upgraded railways and ports.

However, the Belt and Road Initiative faced initial criticism from the US as an example of “debt trap diplomacy.”

Italy’s membership in the initiative was set to automatically renew in March of the following year if the country did not notify China of its withdrawal by the end of that year.

Prime Minister Giorgia Meloni had previously called the decision of the previous government to join a “serious mistake” but stated that her government aims to maintain good relations with China despite this step.

It was reported earlier that China had loaned $240 billion to countries with debts related to the “One Belt, One Road” project.

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