The Global Gateway is a European development initiative that aims to unite EU foreign policy priorities with EU financial and development tools to create a comprehensive investment package and strategy.
The goal of the initiative is to address the global investment gap in infrastructure, which is projected to reach 13 trillion euros by 2040, according to G20 estimates.
The Global Gateway focuses on the development of global infrastructures in the digital sector, energy sector, transport sector, health, and education, in order to tackle global challenges such as climate change, human rights, global health, and supply chains, by providing fair and favorable conditions to aid recipients.
The initiative aims to leverage investments of up to €300 billion between 2021 and 2027, mobilizing both EU development mechanisms and the private sector. The European Fund for Sustainable Development+ (EFSD+), the financial arm of NDICI-Global Europe, will provide up to €135 billion in guaranteed investments for infrastructure projects. Additionally, up to €18 billion will be made available in grant funding from the EU budget, while European financial and development finance institutions have planned investment volumes of up to €145 billion.
In terms of geographic focus, the Global Gateway has a wider geographic scope than previous EU development initiatives, which mainly focused on Asia. It now includes Africa as a key recipient with a total funding package of €150 billion, as well as the Western Balkans, the Eastern Neighborhood of the EU, Latin America, and the Caribbean.
Global Gateway projects are developed and implemented through “Team Europe Initiatives” (TEIs) and aim to establish a strong and recognizable international brand for the EU in the countries where programs will be implemented.
The European Commission has published four infographics outlining the flagship projects for 2023 in each geographic region (1. Africa, 2. Asia, 3. Latin America and the Caribbean, 4. Neighborhood and Western Balkans). The infographics denote specific priorities for 2023 and propose a number of flagship projects that will be used for communication purposes. They do not include all projects that will be implemented within the Global Gateway strategy.
The infographics include two flagship projects submitted by our country. These are the GREGY interconnector project, which aims to import electricity from renewable sources from Egypt to Greece and then to Europe, and the EuroAsia interconnector project, which aims to interconnect Israel, via Cyprus and Greece, with the European electricity networks.
More information on the Global Gateway initiative is available at the website of the European Commission, as well as the website of the Global Gateway, where you can find information on project proposals and funding opportunities