Wed. Jul 27th, 2022
Global Gateway: up to ¤300 billion for an EU strategy to promote sustainable global connectivity

The European Commission and the High Representative for Foreign Affairs and Security Policy today launched a new European strategy, the Global Gateway Initiative. It aims to promote smart, clean and secure connections in digital, energy and transport, and to strengthen global health, education and research systems.

These are sustainable and reliable connections that work for people and the planet to address the world’s most pressing global challenges. From climate change and environmental issues to improving health security, competitiveness and strengthening global supply chains, the Global Gateway is a partnership between partners. It aims to mobilise investments of up to €300 billion between 2021 and 2027 to support a sustainable global economic recovery, taking into account partners’ needs and the EU’s own interests.

Ursula von der Leyen, President of the European Commission, said COVID-19 shows how interconnected the world we live in is. As part of our global reconfiguration, we want to rethink the way our world is connected to better shape the future.

The European model is one of investment in hard and soft infrastructure, sustainable investment in digital technologies, climate and energy, transport, health, education and research, and a level playing field. in line with EU democratic values and international norms and standards, respecting the highest social and environmental standards, and high quality Promotes smart investment in infrastructure. The Global Gateway strategy is a model for Europe to build more sustainable links with the rest of the world”.

Josep Borel, Executive Vice President, said Linkages between key sectors will create communities of common interest and strengthen the resilience of supply chains. Strengthening Europe globally means working closely with our partners and remaining firmly rooted in our core principles. With the Global Gateway strategy, we reaffirm our vision of a stronger connected network. This network must be based on internationally recognised standards, rules and regulations to ensure a level playing field”.

The EU has long been a reliable partner in the implementation of high quality, sustainable projects that meet the needs of partner countries and bring long-term benefits to local communities and the EU’s strategic interests.

The Global Gateway aims to increase investment and encourage private sector investment that promotes democratic values and high standards, good governance and transparency, equitable partnerships and green, clean and safe infrastructure.

With a “Team Europe” approach, the Global Gateway brings together the EU, Member States and financial and development institutions, such as the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). To mobilise the private sector and attract impact investments that make a difference. EU Delegations around the world will play a key role in working with the Europe team on the ground to identify and coordinate Global Gateway projects in partner countries.

Global Gateway is a new funding instrument of the EU’s Multiannual Financial Framework 2021-2027, which includes the Neighbourhood, Development and International Cooperation Instrument (NDICI) – Global Europe, the Instrument for Pre-Accession Assistance (IPA) III, Interreg, InvestEU and the EU’s research programme e innovation“Horizon Europe” to attract public and private investments in priority areas, including connectivity.

Specifically, the European Fund for Sustainable Development+ (EFSD+), the financial arm of NDICI-Global Europe, guarantees investments of up to 135 billion euros in infrastructure projects between 2021 and 2027, and the EU budget offers grants of up to 18 billion euros, with European financial institutions and development finance institutions planning to invest up to 145 billion euros.

The EU continues to expand its range of financial instruments and is considering the creation of a European Export Credit Fund to complement existing export credit schemes in Member States and to increase the EU’s collective strength in this area. Such a mechanism would help to ensure a more level playing field for EU companies and facilitate their participation in infrastructure projects, as they increasingly have to compete in third country markets with foreign competitors with significant government support.

The EU will promote the highest standards of environmental, social and strategic governance, as well as provide partners with sound financial conditions, grants, soft loans and budget guarantees to reduce investment risks and increase debt sustainability. The EU will provide technical assistance to strengthen partners’ capacity to prepare sound projects and ensure cost-effectiveness of infrastructure.

The Global Gateway invests in international stability and cooperation, showing how democratic values can ensure the trust and fairness of investors, the sustainability of partners and the long-term interests of people around the world.

This is Europe’s contribution to closing the global investment gap and requires a concerted effort to put in place a value-oriented, high-level and transparent infrastructure partnership that meets the world’s infrastructure needs, in line with the commitments made by G7 leaders in June 2021″.

The EU is committed to working with like-minded partners to promote sustainable investment in connectivity. The Global Gateway and the US Building a Better World initiative will reinforce each other. This commitment to cooperation was reaffirmed at the 2021 UN Climate Change Conference (COP26), where the EU and the US brought together like-minded partners to express their shared commitment to fight the climate crisis by developing clean, sustainable and zero-carbon infrastructure fit for the future.

The Global Gateway builds on the success of the 2018 EU-Asia Engagement Strategy, the recent partnerships with Japan and India, and the economic and investment plans for the Western Balkans, the Eastern Partnership and the Southern Neighbourhood. This is fully in line with the UN 2030 Agenda and its Sustainable Development Goals, as well as the Paris Agreement.

Next steps

The Global Gateway project will be designed and implemented by a European team: EU institutions, Member States and European financial institutions, in collaboration with European businesses, as well as governments, civil society and the private sector in partner countries.

Under the overall guidance of the President of the European Commission, the High Representative/Vice-President of the European Commission and the Commissioner for International Partnerships, Neighbourhood Relations and Enlargement, the implementation of the “Global Gateway” will continue and coordination between all stakeholders will be ensured.

The members of the Academy have stated that

Jutta Ulpiläinen, Commissioner for International Partnerships, said: “The Global Gateway strategy is a European effort to create equal partnerships that reflect Europe’s long-term commitment to sustainable recovery in each partner country. Through Crossing, we want to build a strong and sustainable link between Europe and the world, instead of dependency, and to build a new future for our young people”.

Olivier Valli, European Commissioner for Enlargement, added: “The EU’s global links start with its neighbours. Our recently announced economic and investment plans for the Western Balkans, the East and the South are based on connectivity. Connectivity with Europe and connectivity within these regions. These plans will be developed in close cooperation with our partners and will launch a comprehensive gateway strategy in the neighbouring regions under the competence of this Commission”.

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