By 2027, Global Gateway will allocate nearly 300,000 million euros in investments in third countries
The European Union is very active internally for its 27 member states, but it does not forget what happens on the other side of the border. To promote sustainable connections with other countries, the European Commission and the EU High Representative have created the Global Gateway strategy, focused on boosting the energy, transport, digitalisation, education, health, climate and research sectors with investments in other countries.
As a result, between 2021 and 2027 up to 300,000 million euros will be mobilised for investments in quality infrastructure to help bridge the digital divide.
The six Global Gateway principles
Partnerships between the EU and third countries should be governed by the following six principles:
· Good governance and transparency.
· Democratic values and high standards of compliance.
· Equality between partners.
· Ecology and resilience to climate change.
· Promotion of investments in the private sector.
These principles underpin the EU’s work and are seen as a red line in funding to third countries.
The strategy’s funding
The Global Gateway strategy is based on the new financial instruments of the EU’s multi-annual framework 2021-2027: Global Europe and the Instrument for Pre-Accession Assistance.
Other programmes where funding will be available include Horizon Europe, Interreg and InvestEU, where the EU will offer solid financial conditions to its partners.
In addition, a new tool, the European Export Credit Facility, is being considered to complement the EU’s existing export credit arrangements and increase their capacity.