The European Union has launched a powerful investment agenda for Latin America and the Caribbean in an attempt to find new markets in a complicated international environment due to Russia’s invasion of Ukraine and to counter the weight China is bringing to the region. European countries have pledged to invest 45,000 million euros ($50,500 million) by 2027 in financing projects for the region through the Global Gateway initiative.
The initiative presented by European Commission President Ursula van der Leyen this Monday in the framework of the summit between the European Union and the Community of Latin American and Caribbean States (CELAC) is linked to the country’s menu of projects. A total of over 100 companies and organizations interested in investing in the region. Alliances to invest in key value-adding projects, from loans for the launch of the long-awaited Bogotá metro, the effort to bring digital connectivity to 85% of Colombian regions by 2026, or the implementation of electric buses in Costa Rica. Minerals such as lithium, the expansion of the telecommunications sector in the Brazilian Amazon or the production of vaccines in Mexico.
The Global Gateway or Global Compact, designed in consultation with the Inter-American Development Bank (IDB) and the CAF-Development Bank of Latin America and the Caribbean, is an instrument with four pillars: just energy transition, inclusive digital transition, human development, health and vaccines. . “Together we have designed a high-quality investment agenda for the benefit of both regions,” van der Leyen said. “It’s not just how much we spend, but how we invest that matters. “Global Gateway is committed to the highest environmental and social standards and transparency. This is the European way of doing business.
Here is a list of selected projects by country:
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