EU Announces ‘Global Gateway’investment Plan

January 27, 2022
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           EU Announces ‘Global Gateway’investment Plan




          According to Agence France-Presse reported in Brussels on December 1st, the European Commission announced a plan to mobilize 300 billion euros of public and private infrastructure investment around the world on the same day. This move is seen as a response to China's "the belt and road initiative" initiative.

A document of the European Commission said: "The goal of the' Global Gateway' program is to mobilize up to 300 billion euros of investment from 2021 to 2027 ... and integrate the resources of the European Union, member States, European financial institutions and national development financial institutions."

The "Global Gateway" plan does not name China's international infrastructure strategy, but Ursula Ursula von der Leyen, president of the European Commission, said that the plan is "a road map for large-scale investment in infrastructure development around the world".

According to the website of German Youth World News reported on December 1st, the EU's "Global Gateway" investment plan will build large-scale transportation networks, energy projects and data transmission lines in newly industrialized countries and developing countries.

At the same time, the "global portal" is also conceived as a support plan for EU enterprises. A senior official of the European Commission confirmed on Tuesday that the plan is also aimed at strengthening Europe economically, so as to award project contracts in target countries to European companies as much as possible.

According to the report, as early as three years ago, the EU launched a similar initiative-"EU-Asia Interconnection Strategy" with great fanfare, but the strategy basically failed. The German Federal Foreign Trade and Investment Agency recently confirmed that the strategy did not achieve any "noteworthy results".