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News / Global Gateway: up to €300 billion for sustainable links around the world
The European Commission and the High Representative for Foreign Affairs and Security Policy have launched the Global Gateway, the new European strategy to boost digital, energy and transport links that are smart, clean and secure and to strengthen health, education and research systems across the world.
The initiative stands for sustainable and trusted connections that work for people and the planet, tackling the most pressing global challenges – from climate change and protecting the environment, to improving health security and boosting competitiveness and global supply chains. Global Gateway aims to mobilise up to €300 billion in investments between 2021 and 2027 to underpin a lasting global recovery, taking into account partners’ needs and the EU’s own interests.
President of the European Commission, Ursula von der Leyen, said : “COVID-19 has shown how interconnected the world we live in is. As part of our global recovery, we want to redesign how we connect the world to build forward better. The European model is about investing in both hard and soft infrastructure, in sustainable investments in digital, climate and energy, transport, health, education and research, as well as in an enabling environment guaranteeing a level playing field. We will support smart investments in quality infrastructure, respecting the highest social and environmental standards, in line with the EU’s democratic values and international norms and standards. The Global Gateway Strategy is a template for how Europe can build more resilient connections with the world.”
Through a Team Europe approach, Global Gateway will bring together the EU and Member States with their financial and development institutions, including the European Investment Bank and the European Bank for Reconstruction and Development, and seek to mobilise the private sector in order to leverage investments for transformational impact.
Source: European Union
Photo credits: European Union
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