EU Proposes ‘Better Choices’ with Global Gateway
“We want to present more choices, better choices to countries,” underscored EC Chair Ursula von der Leyen during her opening remarks at the 1st Global Gateway Forum (#GGF2023). The Forum is taking place in Brussels from 25 to 26 October 2023.
The objective of the EU Global Gateway (#GG) is to mobilize ‘high-quality’ investment from the EU to the world in order to implement a better development roadmap as compared to the Chinese Belt and Road Initiative (#BRI). The key areas for cooperation for this edition are #CriticalMinerals, Clean Energy and Sustainable Corridors.
“No country should be faced with a situation in which the only option to finance its infrastructure is to sell its future.”
EC Chair Ursula von der Leyen
One of the key global issues is #ClimateChange and securing the supply chain for green #CriticalMinerals is essential to achieve #NetZero. To that effect, the EU is prepared to work with DR Congo. Zambia, Namibia and other countries rich in #CriticalMinerals in order to diversify its sources and to promote more Loval Value Addition (#LVA) to achieve ‘real win-win’ situation.
At the same time, the #GG will focus on building or enhancing economic corridors cutting across Africa and linking the Atlantic Ocean to the Indian Ocean. In particular, the EU plan to finance the #LobitoCorridor to connect the Katanga region in DR Congo to the port of Lobito in Angola, by passing through the Copperbelt Province in Zambia.
The Global Gateway initiative (#GGI) plans to mobilize EUR 300 billion to enhance #connectivity around the world. Comparatively, during the 3rd #BRF, Chinese President Xi Jinping stated that the #BRI has mobilized more than USD 1 trillion over its first decade and he pledged another USD 110 billion going forward.
“Global Gateway has the size to make a difference.”
Interestingly, while the #GG emphasizes ‘clean and green’ projects, the BRI now stresses ‘small and smart’ projects. Both programs place great importance on ‘high-quality’, although the interpretation and degree of commitment might differ.