European Commission and EIB announce €18 billion to boost investments in climate action and sustainable economies in partner countries
02/05/2023
The European Commission and the European Investment Bank have announced €18 billion of financing under the Global Gateway, Europe’s investment strategy for partner countries.
This will boost investment in Global Gateway’s priority areas – climate action, clean energy and connectivity – in Europe’s partner countries around the world. In particular, these projects will aim to help bridge the global climate finance gap and support prevention, adaptation and mitigation.
Speaking from the Global Citizen NOW Summit in New York, European Commission President Ursula von der Leyen said: “Global Gateway invests in the projects our partners need – from natural risks prevention to clean transport and energy infrastructure. And this €18 billion in financing will get even more such projects off the ground, swiftly. Global Gateway will help advance the climate transition around the world, improving people’s lives and making our partners more resilient.”
Across the world, Global Gateway aims to mobilise €300 billion in investments between 2021 and 2027 with a mix of grants, concessional loans and guarantees to de-risk private sector investments.
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