Italy reportedly drops out of China Belt and Road initiative that failed to deliver

MILAN (AP) — Italy has formally withdrawn from China’s global Belt and Road initiative that seeks to deepen relations with foreign countries through infrastructure investments, Italian media reported on Wednesday.

Italian Premier Giorgia Meloni had previously signaled Italy’s intention to withdraw from the agreement, which was up for renewal. The Milan newspaper Corriere della Sera reported that a letter with the formal notice had been delivered to Beijing in recent days. Meloni’s office declined to comment on the report.