G7 statement puts spotlight on EU Global Gateway Strategy

Reading Time: < 1 minute

The G7 group of countries has issued a statement that aligns with the European Union’s recently unveiled Global Gateway Strategy, which aims to finance quality and sustainable infrastructure globally. The G7 Statement on Partnership for infrastructure and investment also commits to narrowing the existing investment gap.

Through its strategy, the EU is looking to compete with global investors like China and help to meet global infrastructure development needs, employing a democratic approach based on values and transparency and including favourable financial terms, with the overall goal of bolstering the recovery of the global economy. It aims to initiate investments with its partners to the tune of EUR 300 billion into areas like digital, energy and transport and seeks to strengthen health, education and research worldwide.

European Commission President Ursula von der Leyen said the EU’s Global Gateway investments will target contemporary challenges. “We will invest in infrastructure that will make the world greener, more connected and fairer. And we will offer partners a positive choice. We will show that there is a different way to improve people’s lives around the world, with value-driven investments,” she underlined.

Source: Hellenic Shipping News