European Commission - Directorate General for Energy
European Commission - Directorate General for Energy
10/02/2024 | Press release | Distributed by Public on 10/02/2024 04:36
Commission takes stock of Team Europe approach to building international partnerships
The past five years have brought unprecedented global crises that could not be tackled by any single country alone. That is why the EU institutions, EU countries, and European development financial institutions clubbed together to respond, among others, to the COVID-19 crisis in a so-called Team Europe spirit. The EU also updated its model of development cooperation, moving away from the donor-recipient relationship towards mutually beneficial partnerships. This brings benefits to the local populations and strengthens resilience in the EU and worldwide.
The European Commission has now taken stock of Team Europe's approach in forging sustainable international partnerships. The Commission reported that the Team Europe approach has increased the scale, impact and visibility of sustainable development cooperation actions and has set these into motion in often difficult contexts, while consistently defending EU values.
For example, the Team Europe approach has been the main delivery mechanism of the EU's Global Gateway investment strategy. Through sustainable public and private investments, Global Gateway is expected to mobilise up to €300 billion by 2027. Between 2021-2023 alone, €179 billion in investments were mobilised in partner countries across the world. This will allow the EU's partners to develop their societies and economies, but also create opportunities for the EU's private sector to invest and remain competitive.
Global Gateway focuses on five priority sustainable investment areas around the world:
- Climate and energy
- Digital transition
- Transport connectivity
- Health
- Education and research
In addition, the EU engages in fragile contexts and countries, where the EU's main aim is to address root causes of fragility and support the basic needs and livelihoods of populations. The EU has also scaled up its work to address root causes of migration, by increasingly engaging with countries of origin and transit.
In recent years, the EU has also significantly strengthened its multilateral engagement with global institutions like the United Nations, the G7/G20, and international financial institutions to shape global policies.
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