LOC17:12
14:12 GMT
BRUSSELS, Oct 9 (KUNA) -- European Commission President Ursula von der Leyen affirmed on Thursday that the Global Gateway initiative reflects Europe's approach of "balanced partnerships built on shared interests and respect for sovereignty", noting that the world is entering "a new era of intense competition and complex economic policies".
In her keynote speech at the second Global Gateway Forum of the European Union, von der Leyen said that the world "is facing challenges stemming from overdependence and unsustainable debt that has burdened many countries", stressing the importance of strengthening autonomy in strategic sectors such as clean energy and artificial intelligence.
The initiative, launched four years ago, " has already mobilised over 306 billion euros out of the 300 billion euros initially targeted within five years", expressing confidence that the goal will surpass 400 billion euros by 2027.
Von der Leyen explained that the initiative focuses on key value chains such as energy, clean technology, critical minerals, transport, food, and health, pointing out that projects like the Lobito Corridor in Central Africa serve as a practical example of successful cooperation between Europe and its partners.
The corridor connects Angola, Zambia, and the Democratic Republic of Congo, helping reduce emissions and create local jobs.
She affirmed that " Europe stands ready to work with its partners to develop joint projects that promote sustainable growth and prosperity", adding that engaging the private sector remains a key driver for achieving long-term development.
The Global Gateway initiative, launched in 2021, was designed as an alternative to China's investment model, particularly in Africa.
It focuses on areas such as energy, transport, education, and research, while also fostering partnerships to help the EU secure the critical minerals needed for the green transition and reduce its dependency on China.
The high-level forum brings together heads of state and government, representatives of international financial institutions, the private sector, and civil society organizations. (end)
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