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The Global Gate Forum in Belgium concluded on October 27 with the signing of agreements worth 3 billion EUR (3.16 billion USD) between the European Union (EU) and many developing and least developed countries.
The forum is part of the EU's Global Gateway Strategy, with the participation of 500 delegates, including 25 Presidents and Heads of Government, many Government leaders and Ministers of countries, leaders of the United Nations, the World Bank, the World Health Organization, the World Trade Organization and many leaders of businesses, investment funds, and socio- political organizations.
With the theme “Stronger Together Through Sustainable Investment”, the forum aims to enhance coordination among countries, international organizations and the private sector in unifying directions and mobilizing resources, increasing investment in high-quality infrastructure, human resource development, and healthcare systems for sustainable development goals.
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EU promotes investment in green energy projects |
During the two working days, leaders focused on discussing initiatives and solutions to increase investment in six priority areas such as green energy and green hydrogen transition, smart transport infrastructure development, digital connectivity, essential raw materials, improving healthcare capacity, education and training.
European Commissioner for International Cooperation, Jutta Urpilainen, said that the EU is the largest provider of development aid, the largest trading partner and investor in Africa and many other regions of the world. With this factor, Ms. Urpilainen believes that the EU will be able to strengthen its global role, becoming an important and more effective strategic partner in the world.
Global Gate is an initiative announced by the EU at the end of 2021 with the goal of mobilizing 300 billion EUR in the period 2022-2027 for development investment projects, connecting infrastructure to promote sustainable development, and solving global problems.
The European Investment Bank (EIB) announced a EUR 500 million support package to improve the quality of health infrastructure in least developed countries. In addition, the EU announced an additional EUR 134 million to increase local production and equitable access to quality, safe, effective and low-cost medical products. The additional funding will support the creation of sustainable ecosystems for equitable access and local production of vaccines, medicines and medical technologies in six African countries.
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