The EU is working closely with its G7 partners to promote sustainable investments worldwide, in line with its newly adopted Global Gateway strategy. The Statement on Partnership for infrastructure and investment issued today by G7 leaders sets out a new approach and concrete steps to narrow the existing infrastructure investment gap at global level.
The statement mirrors the objectives and approach of the Global Gateway initiative, launched on 1 December 2021.
President of the European Commission, Ursula von der Leyen, said: "Our G7 leaders' statement echoes the approach of our Global Gateway initiative. Our objective is clear: with Global Gateway, we will step up our investments to address today's pressing challenges. We will invest in infrastructure that will make the world greener, more connected and fairer. And we will offer partners a positive choice. We will show that there is a different way to improve people's lives around the world, with value-driven investments."
The G7 Statement proposes a step change in strategies to finance quality and sustainable infrastructure, to ensure a strong recovery from the COVID-19 pandemic and rapid progress towards the Agenda 2030's Sustainable Development Goals and international climate and environment commitments, including those recently made at COP26.
Global Gateway is the European Union's contribution to narrowing the global investment gap, based on a democratic, value-driven approach. It fosters high-standard, and transparent partnerships to meet global infrastructure development needs.
The Global Gateway is the new Team Europe initiative to boost smart, clean and secure links in digital, energy and transport and strengthen health, education and research systems across the world. Global Gateway is about increasing investments promoting democratic values and high standards, good governance and transparency, equal partnerships, green and clean, secure infrastructures and that catalyse private sector investment. It stands for sustainable and trusted connections that work for people and the planet, to tackle the most pressing global challenges.
The EU will offer its financing under fair and favourable terms in order to limit the risk of debt distress. The EU needs to provide a positive offer for its partners. Global Gateway is that positive offer: an EU plan for major investment in infrastructure development around the world. Global Gateway aims to mobilise up to €300 billion in investments between 2021 and 2027 to underpin a lasting global recovery, taking into account our partners needs and EU's own interests.
President von der Leyen and US President Joe Biden, together with UK Prime Minister Johnson, announced their joint commitment to addressing the climate crisis through infrastructure development during COP26, the UN Climate Change Conference that took place in Glasgow in November.
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