European Commission and the High Representative of the Union for Foreign Affairs and Security Policy launched the Global Gateway on Wednesday, a new European strategy to develop smart, clean and secure connections in the digital, energy and transport sectors and strengthen health, education and research systems around the world.
According to a press release of the EC, the World Portal aims to mobilize, in the period 2021-2027, investments worth up to 300 billion euro, to support a sustainable global recovery, taking into account the needs of partners and the interests of of the EU. The strategy promotes the creation of sustainable and reliable connections for the benefit of humans and the planet, to meet the most pressing global challenges, from climate change and environmental protection to improving health security and boosting competitiveness and global supply chains, according to Agerpres.
“The European model means investing in both physical and intangible infrastructure, sustainable investment in digital, climate and energy, transport, health, education and research, as well as a supportive environment to guarantee a level playing field. We will support smart investments in quality infrastructure, in line with the highest social and environmental standards, in line with EU democratic values and international norms and standards,” said European Commission President, Ursula von der Leyen.
The global portal involves increasing investment that promotes democratic values and high standards, good governance and transparency, equal partnerships and green, clean and secure infrastructure that catalyzes private sector investment.
Through a “Team Europe” approach, the Global Portal will bring together the EU, its Member States and their financial and development institutions, including the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD) and aims to drive the private sector to mobilize investments that have a transformative impact. EU delegations from around the world, in collaboration with Team Europe on the ground, will play a key role in identifying and coordinating the Global Portal projects to be carried out in the partner countries.
The global portal is based on the new financial instruments of the EU’s multiannual financial framework for the period 2021-2027.