WORLD NEWS | European Commission and European Investment Bank announce €18 billion worth of funding to boost investment in climate action

brussels [Belgium]29 April (ANI/WAM): The European Commission and the European Investment Bank have announced €18 billion in financing under the Global Gateway, Europe’s investment strategy for partner countries.

This will boost investment by European partner countries in the Global Gateway’s priority areas – climate action, clean energy and connectivity. In particular, these projects will aim to help bridge the global climate finance gap and support prevention, adaptation and mitigation.

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Speaking at the Global Citizenship Summit in New York, European Commission President Ursula von der Leyen said: “Europe is already the largest provider of global climate finance and official development assistance. But more needs to be done to close the climate finance gap and everyone needs to be involved Come in. This is where our investment strategy, Global Gateway, comes into play.

Global Gateway invests in the projects our partners need, from natural hazard prevention to clean transportation and energy infrastructure. The 18 billion euro financing will quickly launch more such projects. Global Gateway will help drive the global climate transition, improve lives and make our partners more resilient. “

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EIB President Werner Hoyer said: “Thanks to our strong partnership with the European Commission, EIB Global has mobilized investments totaling EUR 31 billion under the Global Gateway. This new financing package provides additional support for EU projects, These projects will have a real impact on partners. Countries and some of the world’s most in need of transformation. We believe that the Global Gateway Initiative will contribute significantly to the achievement of the SDGs and we remain fully committed and with our global partners Stay consistent” (ANI /WAM)

(This is an unedited and auto-generated story from a Syndicated News feed, the content body may not have been modified or edited by LatestLY staff)