EC and the EIB announce €18bn of financing

The EC and European Investment Bank will provide €18bn of investment in the Global Gateway’s priority areas of climate action, clean energy and connectivity in countries around the world to help bridge the global climate finance gap and support prevention, adaptation and mitigation.

The Global Gateway strategy is the EU’s offer to partner countries in support of their resilience and sustainable development. This offer aims at narrowing the global investment gap with value-driven investments from public and private sectors, supporting global economic recovery and accompanying the twin green and digital transitions outside the EU.

Across the world, Global Gateway aims to mobilise €300bn in investments between 2021 and 2027 with a mix of grants, concessional loans and guarantees to de-risk private sector investments. EIB Global, the development arm of the European Investment Bank, will mobilise at least €100bn of this target. Financing from the European Investment Bank has already mobilised €31bn.

The Commission will provide an EU budget guarantee to back €8.3bn of EIB lending to Global Gateway. EIB Global will now provide an additional €1.5bn to back up to €10bn of EIB lending. Therefore, together, the European Commission and the EIB will jointly deliver financing of €18bn for projects aiming to support a green, digital and fair transition globally.

Speaking from the Global Citizen NOW Summit in New York, President von der Leyen said: “Global Gateway invests in the projects our partners need, from natural risks prevention to clean transport and energy infrastructure. And this €18bn in financing will get even more such projects off the ground, swiftly. Global Gateway will help advance the climate transition around the world, improving people’s lives and making our partners more resilient.”

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