09/10/2024 (Agence Europe) – The development organisations Counter Balance, Eurodad and Oxfam have criticised the EU’s Global Gateway investment strategy in a report published on Wednesday 9 October. The organisations fear that the funds intended for aid will be diverted to large companies. The report shows that of the 40 European projects analysed, over 60% benefit companies such as Siemens and Suez, while only 16% invest in key sectors such as health and education. “The projects are being rolled out to boost EU business in the Global South, despite serious social, economic and environmental risks. The high standards that the Commission claims to offer to the rest of the world often fall far short”, said the author of the report, Alexandra Gerasimcikova, Head of Policy and Advocacy at Counter Balance. See the report: https://aeur.eu/f/dsx (BD)