European External Action Service
European External Action Service
10/04/2024 | News release | Distributed by Public on 10/03/2024 22:16
The EU's Global Gateway initiative
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The EU's Global Gateway initiative
Global Gateway is a European Union (EU) initiative aimed at contributing to narrowing the global investment gap accompanying the social and just green and digital transitions beyond Europe's borders while also boosting competitiveness and the security of global supply chains.
© European Union, 2023
Global Gateway is a strategy to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world on the basis of trust, sustainability and mutual interest. It provides investments for transformative, large-scale projects, while offering a respectful and qualitative and horizontal/equal partnership to the EU's partner countries in line with the UN Sustainable Development Goals and the Paris Agreement.
It promotes investments in hard infrastructure by improving the enabling environment, regulatory frameworks, norms and standards, technology transfer and know- how. Crucially, it does this in full respect for international labour standards and human rights, as well as good governance and transparency, which makes the overall approach unique and provides for a distinctive engagement with partner countries.
This distinguishes the EU from other actors, who follow unsustainable investment practices that often leave recipient countries caught in a debt-trap. Global Gateway projects are designed explicitly to be sustainable and of high quality and to bring clear added value to our partner countries and their citizens.Global Gateway aims to mobilise up to €300 billion in investments worldwide between 2021 and 2027 with a mix of grants, concessional loans and guarantees to de- risk private sector investments. It is implemented through a 'Team Europe' approach mobilising all EU institutions, EU Member States, their Development Finance Institutions and Export Credit Agencies, the European Investment Bank, the European Bank for Reconstruction and Development and the European private sector.