Visits: 12
The EU is stepping up its investment efforts to assist in developing infrastructure around the world: during 2021-27, the EU institutions and the member states (so-called Team Europe) jointly mobilized about € 300 billion to support such spheres as digital agenda, climate and energy, transport and health, education and research.
The EU will offer not only solid financial support for partners around the world, but also promote the highest standards in environmental protection, social affairs and strategic management. Besides, the EU will provide technical assistance to partners to enhance their capacity in preparing credible infrastructure projects that ensure value for money.
Financial support
Total EU and Member States’ contribution (so-called Team Europe) presently reached more than €4.3 billion; plus allocation of €600 million in additional funds for addressing the global food security crisis in the most vulnerable partner countries in Africa, the Caribbean and Pacific.
Total EU support to global food security and food systems is over €7.7 billion until 2024; along with additional €600 million, it includes an estimated €2.2 billion in immediate humanitarian food and nutrition assistance for the most vulnerable countries and €5 billion to be invested in sustainable food systems in the medium to long term.
The Commission also announced the doubling of the EU’s funding to global biodiversity by €7 billion invested to protect biodiversity around the world; e.g. the European Union is preparing forest partnerships with five countries: Uganda, Zambia, Congo, Mongolia and Guyana.
Global Gateway
The European “Global Gateway” represents an EU-wide approach to resolving several global challenges: from sustainable development to food security, to humanitarian assistance, to bio-diversity, etc. and trusted connections that work for people and the planet. It will help to tackle the most pressing global challenges, from fighting climate change, to improving health systems, and boosting competitiveness and security of global supply chains.
The European Commission and the EU High Representative have set out the Global Gateway, a new European strategy to boost smart, clean and secure links in digital sector, energy and transport sectors and to strengthen health, education and research systems across the world.
The Global Gateway will deliver sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities. This will allow EU’s partners to develop their societies and economies, but also create opportunities for the EU Member States’ private sector to invest and remain competitive, whilst ensuring the highest environmental and labour standards, as well as sound financial management.
he Global Gateway will be delivered through a Team Europe approach, which brings together the EU and EU Member States with their financial and development institutions, including the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD). It also seeks to mobilise the private sector in order to leverage investments for a transformational impact.
The Global Gateway draws on the new financial tools in the EU multi-annual financial framework 2021-2027, in particular the Neighbourhood, Development and International Cooperation Instrument (NDICI)-Global Europe, the Instrument for Pre-Accession Assistance (IPA) III, the digital and international part of the Connecting Europe Facility, but also Interreg, InvestEU and Horizon Europe, the EU research and innovation program.
In particular, the European Fund for Sustainable Development+ (EFSD+), the financial arm of NDICI-Global Europe will make available up to €135 billion for guaranteed investments for infrastructure projects between 2021 and 2027. Up to €18 billion will be made available in grant funding from the EU budget. European financial and development finance institutions have up to € 145 billion in planned investment volumes.
In addition, the EU is exploring the possibility of establishing a European Export Credit Facility to complement the existing export credit arrangements at the member state level and increase the EU’s overall firepower in this area. The Facility would help ensure a more level playing field for EU businesses in third country markets, and thus facilitate their participation in infrastructure projects.
The Global Gateway is the EU’s contribution to narrowing the global investment gap worldwide. It is in line with the commitment of the G7 leaders from June 2021 to launch a values-driven, high-standard and transparent infrastructure partnership to meet global infrastructure development needs. The Global Gateway is also fully aligned with the UN’s Agenda 2030 and its Sustainable Development Goals, as well as the Paris Agreement.
Reference to: https://ec.europa.eu/info/strategy/priorities-2019-2024/stronger-europe-world/global-gateway_en
Besides, Commissioner for International Partnerships, Jutta Urpilainen said: “We must unite to put the Sustainable Development Goals back on track. As announced at the Transforming Education Summit this week, the EU has significantly increased its investment in education – the accelerator of progress on all SDGs. With these new announcements today, we call on the international community to join us in investing more, more equitably and more efficiently in people and planet.”
Source: https://ec.europa.eu/commission/presscorner/detail/en/IP_22_5730
Global funding for biodiversity
The EU President’s announcement of €7 billion investment in biodiversity protection worldwide is a concrete follow up to the EU’s commitment made last year to double biodiversity financing during 2021-2027, especially for the most vulnerable countries. The recent announcement comes at a critical moment ahead of December’s UN Biodiversity Conference in Montreal set to adopt a Global Biodiversity Framework.
The EU institutions and the member states have already started to deliver on this commitment: e.g. the Team Europe adopted NaturAfrica initiative, to support partner countries in Africa to combine nature preservation with socio-economic development.
The EU contribution to the Great Green Wall Initiative led by the African Union is another example of support to a mosaic of green and productive landscapes across Sahelian and Horn of Africa countries, from Senegal to Djibouti and Somalia.
Besides, through the Regreening Africa project, the EU is supporting land restoration across one million hectares, benefitting 500,000 households in Mali, Niger, Senegal, Ghana, Ethiopia, Kenya, Somalia and Rwanda.
The Commission is also delivering and should sign its first Forest Partnerships this year to support partner countries to sustainably manage, protect and restore their forest for the benefits of their populations and long-term development.
Additional information in the following Commission weblinks: = EU announces €715 million for the Global Fund to save millions of lives from AIDS, tuberculosis and malaria; = Food security: EU allocates funds to the most vulnerable African, Caribbean and Pacific countries hit by food crisis; = Sexual and reproductive health and rights: EU announces €45 million for UNFPA Supplies Partnership; = Humanitarian food assistance; and = Global Gateway Commission européenne (europa.eu)