The operational priorities of the ‘Global Gateway‘, a strategic investment programme designed to mobilise €300 billion in major infrastructure projects, clean energy, digital and health in the EU’s partner countries, have been identified for 2023, according to the European Commission.
The Foreign Ministers of the EU Member States were informed of this on Monday 12 December by the High Representative of the Union and Vice-President of the Commission, Josep Borrell, the day after the first meeting of the Board of Directors of the financial institutions concerned, convened by Commission President Ursula von der Leyen.
These “geopolitically” oriented investments to counterbalance investments by EU competitor powers mobilise resources from the EU budget, the EIB and EBRD, the Member States and their financial institutions as well as the private sector - a sector that Ms von der Leyen met with ahead of the Board meeting.
So far, more than €9 billion in grants from the EU budget have been committed to all identified sectors in Africa, Latin America, the Caribbean and the Pacific region.
For sub-Saharan Africa, Latin America and Asia-Pacific, the Commission will submit on 15 December 40 projects from European financial institutions for approval by the Board of the European Fund for Sustainable Development Plus (EFSD+), expected to generate more than €50 billion in investments, the Commission estimates.
Under the ‘EFSD+’ guarantee agreement signed in May with the EIB, which provides a total guarantee of €26.7 billion to cover EIB sovereign loans, 34 projects representing €7.4 billion of investments have already been approved.
For the Western Balkans and the Southern and Eastern Neighbours, the EU and its financial institutions have so far mobilised €14 billion of the €77 billion expected to be invested until 2027 under the three economic and investment programmes. (Original version in French by Aminata Niang)