European Commission President Ursula von der Leyen announced that the European Union plans to mobilize more than €400 billion by 2027 through its Global Gateway initiative, significantly increasing its original investment goal.

“Global Gateway originally aimed to invest €300 billion, half of it in Africa, between 2021 and 2027, as an alternative to the Chinese initiative,” von der Leyen said. The program is designed to boost investment in countries across the global South, offering a strategic counterweight to China’s infrastructure push.

The initiative focuses on key areas such as energy, transport, education, and research. It also includes efforts to strengthen partnerships that will help the EU secure critical raw materials needed for the green transition, thereby reducing reliance on Chinese supply chains.

Von der Leyen also announced the creation of a new mechanism to streamline investment proposals: “today the EU will launch a Global Gateway Investment Hub, a one-stop shop for companies’ proposals.”

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