On December 1, the European Commission and the High Representative for Foreign Affairs and Security Policy launched the Global Gateway, the new European Strategy to boost smart, clean and secure links in digital, energy and transport and strengthen health, education and research systems across the world.
It stands for sustainable and trusted connections that work for people and the planet, to tackle 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 mobilize up to €300 billion (US$462 billion) in investments between 2021 and 2027 to underpin a lasting global recovery, taking into account partners needs and EU’s own interests.
Investment in line with EU’s democratic values
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.”
Reaffirming internationally-accepted rules
High Representative/Vice-President, Josep Borrell, said: “Connections across key sectors help to build shared communities of interest and reinforce the resilience of our supply chains. A stronger Europe in the world means a resolute engagement with our partners, firmly grounded in our core principles.
“With the Global Gateway Strategy, we are reaffirming our vision of boosting a network of connections, which must be based on internationally accepted standards, rules and regulations in order to provide a level-playing field.”
Promoting democratic values
Global Gateway is about increasing investments promoting democratic values and high standards, good governance and transparency, equal partnerships, green and clean, secure infrastructures and that catalyze private sector investment.
Through a Team Europe approach, Global Gateway will bring together the EU, Member States with their financial and development institutions, including the European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD) and seek to mobilize the private sector in order to leverage investments for a transformational impact. The EU Delegations around the world, working with Team Europe on the ground, will play a key role to identify and coordinate Global Gateway projects in partner countries.
The EU will offer not only solid financial conditions for partners, bringing grants, favorable loans, and budgetary guarantees to de-risk investments and improve debt sustainability – but also promote the highest environmental, social and strategic management standards. The EU will provide technical assistance to partners to enhance their capacity to prepare credible projects ensuring value for money in infrastructure.
Global Gateway will invest in international stability and cooperation and demonstrate how democratic values offer certainty and fairness for investors, sustainability for partners and long-term benefits for people around the world.
This is Europe’s contribution to narrowing the global investment gap, that requires a concerted effort in line with the June 2021 commitment of the G7 Leaders to launch a values-driven, high-standard, and transparent infrastructure partnership to meet global infrastructure development needs.
The EU is committed to working with like-minded partners to promote sustainable connectivity investments. Global Gateway and the US initiative Build Back Better World will mutually reinforce each other. This commitment to working together was reaffirmed at COP26, the 2021 United Nations Climate Change Conference, where the EU and the United States brought together like-minded partners to express their shared commitment to addressing climate crisis through infrastructure development that is clean, resilient and consistent with a net-zero future.