ISTANBUL

The European Commission president announced Thursday that they expect the Global Gateway program to mobilize a total investment of over €400 billion (over $464 billion) by 2027.

Speaking at the Global Gateway Forum in Brussels, Ursula von der Leyen said the program was launched four years ago and added: "We are all adapting to the realities of this new economy. We are trying to strengthen our autonomy in strategic sectors – from clean energy to artificial intelligence."

Von der Leyen also said that today's value chains have become too complex and global to act alone, explaining that the only way forward is through partnerships.

"Global Gateway is about mutual benefits. Our initial goal was to mobilize €300 billion in five years. But today, we have already hit that target. In four years, we have already mobilized more than €306 billion. And I am confident we will surpass €400 billion by 2027," she said.

She said they want to focus the program more on key areas such as energy, clean technology, digital, critical minerals, transportation, food, and health.

She explained: "In all these fields, our goal is to combine our strengths. To build up resilient value chains together. With local infrastructure, but also local jobs, local skills, and local industries."

Von der Leyen noted that many critical projects around the world are still struggling 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. Global Gateway makes grants, concession loans, and guarantees, to share the risk and to make projects viable for business," she added.

Global Gateway was launched by the EU Commission in 2021 as "a new European strategy to boost smart, clean and secure links in digital, energy and transport sectors, while also strengthening health, education and research systems across the world," according to an official description.

The program is especially active in Africa. According to the commission, a total of €150 billion in investments were dedicated to "strengthening partnerships" with Africa.