The next round of investments — set to be decided later this year — should focus on so-called geographic “corridors” where the impact of funding can stack across multiple projects — for example building new energy, raw materials and transport infrastructure, it said.
Projects that could receive cash include copper and cobalt mining from Zambia to the Democratic Republic of Congo, and increased engagement with Central Asia.
At the moment, “our efforts are spread too thinly across too many fronts, lacking strategic focus,” said the paper, written by the Commission’s Directorate-General for International Partnerships.
The Global Gateway program was launched in an attempt to project European power and influence as an international partner particularly for developing economies around the world. China is years ahead in cementing relationships with governments in Africa and elsewhere, plowing money into projects such as ports, road and rail, telecommunications and power stations. Some 140 countries around the world are already part of China’s program, which was launched in 2013.
The EU’s Global Gateway initiative, launched formally last year, aims to unlock as much as €300 billion by 2027 in public and private funds. So far, more than 200 projects receive funding under the program.
The critical tone of the briefing document represents an acknowledgment that the initiative so far has fallen short of its potential.
