EU chief von der Leyen announces €400 billion global investment goal

BM Newsroom

Credit: Reuters

Brussels (Brussels Morning Newspaper) – European Commission President Ursula von der Leyen announced on Thursday that the European Union aims to mobilise more than 400 billion euros by 2027 for Global Gateway, its initiative to increase investments in the Global South.

She also said that the EU today is launching a Global Gateway Investment Hub, a single-entry platform for businesses to propose investments.

The European Union routes its investment in the Global South primarily through its Global Gateway initiative, which serves as the EU’s external investment strategy to invest in sustainable and high-quality infrastructure projects.

How does the Global Gateway strengthen EU partnerships?

The Global Gateway initiative is the European Union’s overarching strategy to establish smart, clean and secure connections in digital, energy and transport sectors, and to bolster health, education and research systems around the globe.

Global Gateway was originally designed to invest 300 billion euros, half of it in Africa, from 2021 to 2027, as an alternative to China’s rival scheme. The Global Gateway aims to mobilise up to €400 billion in public and private investments from 2021 to 2027, expanding beyond the initially planned €300 billion target.

The projects are in areas such as energy, transport, education and research, along with partnerships to help the European Union secure minerals critical for its green transition and reduce reliance on China.

How do past EU investment plans connect to this effort?

The European Union has a number of major investment initiatives similar to the Global Gateway, focused on external and strategic investments. The European External Investment Plan (EIP) was launched in 2017 towards the end of the Juncker Presidency to promote job creation, economic growth, and poverty reduction, mainly in Africa and the EU’s neighbourhood. 

It raised public and private finance in a blended form of grant and guarantee finance to mobilise investment in development projects targeting sustainable development goals (SDGs).

In addition, the InvestEU Programme, which runs from 2021 to 2027, aims to mobilise investment, innovation, and job creation, mainly in the EU, but under certain conditions can also support strategic investments outside the EU by providing guarantees to attract both public and private funds. Its focus is on sustainable infrastructure, research and innovative social investments, SMEs and Climate.

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.
Share This Article
The Brussels Morning Newspaper Logo

Subscribe for Latest Updates