{"id":15073,"date":"2023-05-02T06:09:22","date_gmt":"2023-05-02T04:09:22","guid":{"rendered":"https:\/\/thesmartcityjournal.cibeles.net\/sin-categoria\/global-gateway-commission-and-eib-announce-funds-worth-18-billion-to-boost-investments-in-climate-action-and-sustainable-economies\/"},"modified":"2023-05-01T18:35:51","modified_gmt":"2023-05-01T16:35:51","slug":"global-gateway-commission-and-eib-announce-funds-worth-18-billion-to-boost-investments-in-climate-action-and-sustainable-economies","status":"publish","type":"post","link":"https:\/\/www.thesmartcityjournal.com\/en\/sustainability\/global-gateway-commission-and-eib-announce-funds-worth-18-billion-to-boost-investments-in-climate-action-and-sustainable-economies","title":{"rendered":"Global Gateway: Commission and EIB announce funds worth \u20ac18 billion to boost investments in climate action and sustainable economies"},"content":{"rendered":"

In particular, these projects will aim to help bridge the global climate finance gap and support prevention, adaptation, and mitigation<\/p>\n

The European Commission<\/strong><\/a> and the European Investment Bank<\/strong><\/a> have announced \u20ac18 billion of financing under Global Gateway, Europe\u2019s investment strategy for partner countries. This will boost investment in Global Gateway\u2019s priority areas \u2013 climate action, clean energy, and connectivity \u2013 in Europe\u2019s partner countries around the world.<\/p>\n

In particular, these projects will aim to help bridge the global climate finance gap and support prevention, adaptation, and mitigation.<\/p>\n

Speaking from the Global Citizen NOW Summit in New York, President von der Leyen said: \u201cEurope is already the top provider of climate finance globally and of official development assistance. But more is needed to bridge the climate finance gap \u2013 and everyone needs to chip in. This is where our investment strategy Global Gateway comes into play. Global Gateway invests in the projects our partners need \u2013 from natural risks prevention to clean transport and energy infrastructure. And this \u20ac18 billion 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\u2019s lives and making our partners more resilient.\u201d<\/em><\/p>\n

EIB President Werner Hoyer said: \u201cThanks to our solid partnership with the European Commission, EIB Global has already mobilized investments amounting to \u20ac31 billion under Global Gateway. This new financing package unlocks more EU support for projects that will make a real difference in partner countries and in some of the areas of the world most in need of transformation. We believe that the Global Gateway initiative will greatly contribute to the achievement of the Sustainable Development Goals, to which we remain fully committed and strongly aligned with partners worldwide\u201d<\/em><\/p>\n

The Global Gateway strategy is the EU\u2019s positive 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.<\/p>\n

Across the world, Global Gateway aims to mobilize \u20ac300 billion in investments between 2021 and 2027 with a mix of grants, concessional loans, and guarantees to de-risk private sector investments. The EU\u2019s Global Gateway strategy is on track to deliver on that target. EIB Global, the development arm of the European Investment Bank, will mobilize at least \u20ac100 billion of this target. Financing from the European Investment Bank has already mobilized \u20ac31 billion.<\/p>\n

The Commission will provide an EU budget guarantee to back \u20ac8.3 billion of EIB lending to Global Gateway. EIB Global will provide an additional \u20ac1.5 billion to back up to \u20ac10 billion of EIB lending. Therefore, together, the European Commission and the EIB will jointly deliver financing of \u20ac18 billion for projects aiming to support a green, digital, and fair transition globally.<\/p>\n

The EU and its Member States remain the world\u2019s leading donors, providing 43% of global Official Development Assistance in 2022. The collective ODA increased, reaching \u20ac92.8 billion in 2022, up from \u20ac71.6 billion in 2021<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

In particular, these projects will aim to help bridge the global climate finance gap and support prevention, adaptation, and mitigation The European Commission and the European Investment Bank have announced \u20ac18 billion of financing under Global Gateway, Europe\u2019s investment strategy for partner countries. This will boost investment in Global Gateway\u2019s priority areas \u2013 climate action, clean energy, and connectivity\u2026<\/p>\n","protected":false},"author":2,"featured_media":15072,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_scj_primary_category_id":60,"_scj_featured":false,"_scj_featured_from":"","_scj_featured_until":"","_scj_featured_order":0,"_scj_visibility_class":"current","_scj_layout_family":"standard","_scj_article_style":"","_scj_display_overrides":[],"_scj_intro_image_id":15072,"_scj_intro_alt":"Global Gateway: Commission and EIB announce funds worth \u20ac18 billion to boost investments in climate action and sustainable economies","_scj_intro_caption":"","_scj_intro_class":"","_scj_intro_float":"","_scj_full_image_id":15072,"_scj_full_alt":"Global Gateway: Commission and EIB announce funds worth \u20ac18 billion to boost investments in climate action and sustainable economies","_scj_full_caption":"","_scj_full_class":"","_scj_full_float":"","_scj_media_type":"","_scj_media_provider":"","_scj_media_external_id":"","_scj_media_url":"","_scj_media_poster_id":0,"_scj_media_width":0,"_scj_media_height":0,"_scj_media_aspect_ratio":"","_scj_media_description":"","_scj_gallery_items":[],"_scj_related_post_ids":[],"_scj_additional_authors":[],"scj_layout_family":"standard","scj_media_provider":"","scj_media_url":"","scj_full_caption":"","footnotes":""},"categories":[60],"tags":[],"class_list":["post-15073","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sustainability"],"yoast_head":"\nGlobal Gateway: Commission and EIB announce funds worth \u20ac18 billion to boost investments in climate action and sustainable economies - thesmartcityjournal.com<\/title>\n<meta name=\"description\" content=\"The\u00a0European Commission\u00a0and the\u00a0European Investment Bank\u00a0have announced \u20ac18 billion of financing under Global Gateway, Europe\u2019s investment strategy for partner countries. 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