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President von der Leyen announces Global Gateway has reached its €300 billion investment target building smart, clean links around the world

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The second edition of the Global Gateway Forum took place last week in Brussels bringing together 12 Heads of State and Government and over 70 ministers from around the world.

This was the occasion to showcase the achievements of Global Gateway in developing smart, clean connections and building mutually beneficial partnerships with countries around the world.

President von der Leyen addressed the opening of the forum and announced that Team Europe (EU institutions, member states and development banks) has already hit its original target of mobilizing €300bn in investments. This comes two years ahead of the original deadline of 2027: “In four years, we have already mobilized more than €306bn. And I am confident we will surpass €400 billion by 2027. This shows what we can achieve when we align our strategic priorities, and channel investments to where they have the greatest impact,” the President said.

A key element of the Forum was bringing together government representatives and over 150 European companies to better integrate the private sector into Global Gateway investments. President von der Leyen said: “As the world changes around us, too many critical projects still struggle to secure financing. Governments cannot bridge this gap alone. Lasting development depends on the engagement of the private sector, with their funding and know-how.”

To further support and mobilise the private sector, the President announced the setting up of the Global Gateway Investment Hub as a single entry-point platform for companies to propose investments.

President von der Leyen also met the President of the World Bank, Ajay Banga. The two agreed to take cooperation between their institutions to a new level and further support Global Gateway projects. The first agreement is to support 18 projects across Africa, Asia, the Pacific and Latin America.

Scaling up renewables in Africa

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In the margins of the Forum, President von der Leyen met President Cyril Ramaphosa from South Africa. President von der Leyen announced a package of €618 million from Team Europe to support “the Scaling Up Renewables in Africa” campaign co-hosted by the two Presidents.

The financing will tap into Africa's huge energy potential by scaling up investment in renewable energy while creating jobs in the region and boosting green industrialisation. Countries like Kenya, Uganda, the Democratic Republic of the Congo (DRC), Mauritania, Nigeria, Cabo Verde, Zambia, Tanzania and Togo will benefit from the support.

During her meeting with President Ramaphosa, President von der Leyen also announced that EU Member States are putting forward almost €12bn to support the ambition of the EU-South Africa Just Energy Transition Partnership to become global leaders in clean energy.

Continue delivering with Global Gateway

In the margins of the Forum, President von der Leyen had the occasion to meet bilaterally many of the attending leaders and renew the EU's commitment to mutually beneficial partnerships.

For example, she met the President of Ethiopia, Taye Atske, with whom she committed to expand cooperation on health, energy, digital and migration management. 

She met the President of Rwanda, Paul Kagame, and reiterated the EU's support for Rwanda to become a leader in vaccine manufacturing and medical innovation with a new package of €95 million.

President von der Leyen also met the President of the DRC, Felix Tshisekedi and announced €180 million for investments in energy, transport and biodiversity.

Likewise, with the President of Mauritania, Mohamed Ould Ghazouani, she announced new Global Gateway projects on electrification and rail transport.

During her meeting with the Prime Minister of Cabo Verde, Ulisses Correia e Silva, the President announced €200 million for renewable energy, ports and digital infrastructure.

She met the Prime Minister of Grenada, Dickon Mitchell, to discuss how Global Gateway is helping to turn the challenge of sargassum in the Caribbean into opportunities for growth and innovation.

President von der Leyen also met the President of Angola, João Lourenço, who holds the presidency of the African Union, to prepare the upcoming EU-AU Summit in Luanda. Similarly, with the President of Colombia and current President of the Community of Latin American and Caribbean States (CELAC), Gustavo Petro, she prepared the next EU-CELAC Summit.

More information

Keynote speech by President von der Leyen at the Global Gateway Forum

Statement by President von der Leyen with Ajay Banga, President of the World Bank Group

Statement by President von der Leyen with President Ramaphosa of South Africa

Press release: Team Europe reaches €300bn target for Global Gateway investments ahead of time

Press release: President von der Leyen announces €618 million package to scale up renewables in Africa

Website

Audiovisual coverage of the Forum

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