EU Global Gateway

Sunday, 19 March 2023 - 11:00 am (CET/MEZ) Berlin | Author/Destination:
Category/Kategorie: General, EU blog post series, European Union
Reading Time:  4 minutes

© European Commission/cc-by-4.0

© European Commission/cc-by-4.0

The Global Gateway Initiative is a worldwide strategy by the European Union to invest in infrastructure projects and establish economic partnerships, based on certain principles. The project was initiated by the EU Commission, under the leadership of Ursula von der Leyen. It is part of the current plans for European strategic autonomy, and establishing bigger, more democratic and more sustainable trade networks for Europe and its partners. The initiative is also seen as an alternative or rivalry to the Chinese Belt and Road Initiative, which EU leaders heavily criticised because of human rights abuse concerns and economic risks, disadvantages and a one-sided trade relation. The EU wants to encourage links, and not dependencies, according to Ursula von der Leyen. As of December 2022, Global Gateway has been criticized for failing to provide concrete details on projects and drawing heavily on already-existing programmes.

As part of its trade relations, the EU sees Global Gateway as an opportunity to trade and invest in global partners better. The initiative also is a response to a longer systemic rivalry between NATO, the European Union, the United States an other closely related G7 States against the People’s Republic of China, made to counter increasing Chinese political and economical influence. At the 47th G7 summit, the leaders agreed on starting investment initiatives to counter the Belt and Road Initiative, with demands for inventions in the hundreds of billions. The Statement by the G7 on partnership for infrastructure and investment resembles the approach and goals of the Global Gateway Initiative. Another reason for the proposed investments is the worsening of Climate Change, a issue which the EU sees as very important to tackle. Thus, the Initiative was described as “European Green Deal Worldwide”, as a reference to the EU’s European Green Deal and intensification of the fight through this mechanism.

The main funding will mostly be contributed by the EU and Member State institutions for development and finances, but also the European Investment Bank and the European Bank for Reconstruction and Development, but will also leverage private investments from the Pre-Accession Assistance (IPA) III, Interreg, InvestEU and Horizon Europe. A European Export Credit Facility is being considered for establishment, to empower European companies in third countries where they have to face strong disadvantages. Specific funding programmes are NDICI-Global Europe (Budget: €79billion) with the EFSD+ as its financial arm, backed by the Union’s External Action Guarantee (EAG) with a budget of €40billion (out of a total of €53.4 billion) to decrease the risk of investments. In total, the EFSD+ will provide €135 billion in investments guaranteed by the External Action Guarantee for Global Gateway projects, with up to €18 billion in grants and a further planned and estimated €145 billion in investment volumes by European financial and development institutions. Approximately half of the anticipated €300 billion funds Global Gateway funds are to be raised via private investments that the EU hopes to generate with a system of financial guarantees.

Read more on European Commission – Global Gateway, European Union – Global Gateway and Wikipedia Global Gateway (Smart Traveler App by U.S. Department of State - Weather report by weather.com - Global Passport Power Rank - Travel Risk Map - Democracy Index - GDP according to IMF, UN, and World Bank - Global Competitiveness Report - Corruption Perceptions Index - Press Freedom Index - World Justice Project - Rule of Law Index - UN Human Development Index - Global Peace Index - Travel & Tourism Competitiveness Index). Photos by Wikimedia Commons. If you have a suggestion, critique, review or comment to this blog entry, we are looking forward to receive your e-mail at comment@wingsch.net. Please name the headline of the blog post to which your e-mail refers to in the subject line.




Recommended posts:

Share this post: (Please note data protection regulations before using buttons)

Theme Week Madrid - The Museo Nacional del Prado

Theme Week Madrid - The Museo Nacional del Prado

[caption id="attachment_4408" align="aligncenter" width="590" caption="Museo del Prado © Gryffindor"][/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]The Museo del Prado is the main Spanish national art museum, located in central Madrid. It features one of the world's finest collections of European art, from the 12th century to the early 19th century, based on the former Spanish Royal Collection, and unquestionably the best single collection of Spanish art. Founded as a museum of paintings and sculpture, it also contains important collections of oth...

[ read more ]

Rochefort on the Atlantic coast

Rochefort on the Atlantic coast

[caption id="attachment_153073" align="aligncenter" width="590"] The L'Hermione © Dimimis/cc-by-sa-3.0[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]Rochefort is a commune in southwestern France, a port on the Charente estuary. It is a sub-prefecture of the Charente-Maritime department. Rochefort is a notable example of 17th-century "ville nouvelle" or new town, which means its design and building resulted from a political decree. The reason for building Rochefort was to a large extent that royal power could hardly depend on rebellious Pro...

[ read more ]

Theme Week Canary Islands - La Gomera

Theme Week Canary Islands - La Gomera

[caption id="attachment_150711" align="aligncenter" width="590"] San Sebastian de La Gomera - Marina © Jojo[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]La Gomera is the second-smallest of the seven main islands of this group. The upper reaches of this densely wooded region are almost permanently shrouded in clouds and mist, and as a result are covered in lush and diverse vegetation: they form the protected environment of Spain's Garajonay National Park, which was declared a UNESCO World Heritage Site in 1986. The slopes are criss-crossed by path...

[ read more ]

Paris Observatory

Paris Observatory

[caption id="attachment_223398" align="aligncenter" width="590"] © flickr.com - Fred Romero/cc-by-2.0[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]The Paris Observatory (French: Observatoire de Paris), a research institution of the Paris Sciences et Lettres University, is the foremost astronomical observatory of France, and one of the largest astronomical centers in the world. Its historic building is on the Left Bank of the Seine in central Paris, but most of the staff work on a satellite campus in Meudon, a suburb southwest of Paris. The Paris ...

[ read more ]

Cape Verde

Cape Verde

[caption id="attachment_153817" align="aligncenter" width="590"] Mindelo, Baía do Porto Grande and Monte Cara © ElsondeMadrid[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]The Republic of Cape Verde is an island country, spanning an archipelago of 10 islands located in the central Atlantic Ocean, 570 kilometres off the coast of Western Africa. The islands, covering a combined area of slightly over 4,000 square kilometres (1,500 sq mi), are of volcanic origin and while three of them (Sal, Boa Vista and Maio) are fairly flat, sandy and dry, the rem...

[ read more ]

The Kyffhäuser Monument

The Kyffhäuser Monument

[caption id="attachment_171947" align="aligncenter" width="590"] © Burghof Kyffhäuser/cc-by-sa-3.0[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]The Kyffhäuser Monument (German: Kyffhäuserdenkmal), also known as Barbarossa Monument (Barbarossadenkmal), is an Emperor William monument within the Kyffhäuser mountain range in Thuringia. It was erected in 1890–96 at the site of medieval Kyffhausen Castle near Bad Frankenhausen. The Kyffhäuser Monument is the third-largest monument in Germany, after the Monument to the Battle of the Nations (Völ...

[ read more ]

Theme Week Los Angeles - Griffith Park

Theme Week Los Angeles - Griffith Park

[caption id="attachment_165040" align="aligncenter" width="590"] Griffith Observatory © Matthew Field/cc-by-2.5[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]Griffith Park is a large municipal park at the eastern end of the Santa Monica Mountains, in the Los Feliz neighborhood of Los Angeles. The park covers 4,310 acres (1,740 ha) of land, making it one of the largest urban parks in North America. It is the second-largest city park in California, after Mission Trails Preserve in San Diego, and the 11th largest municipally owned park in the United ...

[ read more ]

Theme Week Lombardy - Mantua

Theme Week Lombardy - Mantua

[caption id="attachment_153444" align="aligncenter" width="590"] © EdoM/cc-by-sa-3.0[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]Mantua is a city and comune with 49,000 inhabitants, and capital of the province of the same name. In 2007, Mantua's centro storico (old town) and Sabbioneta were declared by UNESCO to be a World Heritage Site. Mantua's historic power and influence under the Gonzaga family has made it one of the main artistic, cultural, and especially musical hubs of Northern Italy and the country as a whole. Mantua is noted for its si...

[ read more ]

Nob Hill in San Francisco

Nob Hill in San Francisco

[caption id="attachment_223651" align="aligncenter" width="590"] Cable car on Powell Street © flickr.com - Dennis Jarvis/cc-by-sa-2.0[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]Nob Hill is a neighborhood of San Francisco, California that is known for its numerous luxury hotels and historic mansions. Nob Hill has historically served as a center of San Francisco's upper class. Nob Hill is among the highest-income neighborhoods in the United States, as well as one of the most desirable and expensive real estate markets in the country. Nob Hill is ...

[ read more ]

The Gulf of Morbihan

The Gulf of Morbihan

[caption id="attachment_168800" align="aligncenter" width="590"] Île-aux-Moines © Pinpin/cc-by-sa-3.0[/caption][responsivevoice_button voice="UK English Female" buttontext="Listen to this Post"]The Gulf of Morbihan is a natural harbour on the coast of the Département of Morbihan in the south of Brittany. This English name is taken from the French version: le golfe du Morbihan. It is more accurately called 'the Morbihan' directly from its Breton name which is Ar Mor Bihan, meaning 'the little sea' (Compare the Welsh y môr bychan), as opposed to the Atlantic Ocean outside, (Ar Mor Bras). Leg...

[ read more ]

Return to TopReturn to Top
European Parliament © Jose Huwaidi/cc-by-sa-4.0
European Quarter in Strasbourg

The European Quarter is spread over an area covering the districts of Wacken, Orangerie and Robertsau in the north-west of...

© flickr.com - Rusty Clark/cc-by-2.0
Cocoa Beach in Florida

Cocoa Beach is a city in Brevard County, Florida, United States. The population was 11,539 at the 2018 United States...

City Hall at the Plaza Mayor © xavi lópez/cc-by-sa-3.0-es
Valladolid in Castile and León

Valladolid is a municipality in Spain and the primary seat of government and de facto capital of the autonomous community...

Schließen