EU's Ambitious Global Gateway: Boosting Investments in the Global South

The European Union is set to mobilize over 400 billion euros in investments for its Global Gateway initiative by 2027, as announced by European Commission President Ursula von der Leyen. This program is part of the EU's strategy to enhance investments in the Global South, positioning itself as an alternative to China's investment schemes.

Initially outlined to invest 300 billion euros, with a significant portion directed towards Africa, the Global Gateway is broadening its financial scope. Key sectors include energy, transport, education, and research. Moreover, the initiative aims to secure essential minerals for the EU's green transition, reducing dependency on Chinese imports.

The EU is also launching a Global Gateway Investment Hub, which will serve as a single-entry platform for companies seeking investment opportunities. This step underscores the EU's commitment to strengthening global partnerships and facilitating economic progress in the Global South.

(With inputs from agencies.)