EU Global Gateway Strategy
The Commission put out a communication on the Global Gateway strategy last week which foresees a central role for the EFSD+ focusing on on digital, climate&energy, transport, health
If anyone is looking into this it would be good to connect.
A lot of repackaging and branding in the Communication, but copying some of the key elements below:
- Claims mobilisation of investment up to 300 billion 2021-2027:
- Up to €135 billion worth of investments made possible by the EFSD+, including a new initiative with the EIB that could bring €25 billion of additional investments (Commission proposing an additional €750 million over the period 2022-2027 in annual tranches, conditional on the EIB matching these funds)
- Grant financing of up to €18 billion under other EU external assistance programmes,
- €145 billion of planned investment volumes by European financial and development finance institutions,
- The EU aims at coordinating better with its Member States to enhance its strategic role in the boards of the Multilateral Development Banks (MDBs)
- As one of the sectoral windows of the EFSD+ that is open to all development financial institutions under the Open Architecture concept (€13 billion), the Commission will propose a specific Global Gateway window..... A dedicated sub-window will be created for digital connectivity with a country level approach to reinforce convergence with the EU's digital economy packages.
- Commission to look at possibility of establishing a European Export Credit Facility
- Claims around climate proofing infrastructure projects, but not clear how the existing tools for environmental screening will be improved
- High level ownership of strategy by Von der Leyen and Borrell
- Governance around Global Gateway Strategy:
- a Global Gateway Board
- The Commission will set up a Business Advisory Group on the Global Gateway.
- A dialogue will also be set up with civil society
Rachel Simon - Climate & Development Policy Coordinator
Climate Action Network (CAN) Europe
**Please note I do not work on Fridays**
Due to the Corona pandemic, the CAN Europe team is tele-working. Please contact me on my mobile.
Skype: rac.simon Mobile: +32 489716340 Find us online at www.caneurope.org and on Twitter at @CANEurope
Climate Action Network (CAN) Europe is Europe's leading NGO coalition fighting dangerous climate change. With over 170 member organisations from 38 European countries, representing over 1.500 NGOs and more than 47 millions citizens, CAN Europe promotes sustainable climate, energy and development policies throughout Europe.