Pillar Prosperity | MEDITERRANEAN CONNECTIONS: BRIDGING CONTINENTS THROUGH THE GLOBAL GATEWAY?
Three years after its launch, the Global Gateway represents one of the most remarkable EU strategic instruments, also as regards the wider Mediterranean region. With connectivity and sustainable development at its core, this strategy should act as a catalyst for bringing new investments towards Africa and the Middle East. It sets ambitious goals in a number of fields, such as “hard” connectivity infrastructure (transport, renewable energy, digitalisation) but also “soft” connectivity infrastructure (education & research; public health, vaccines and pharmaceuticals). However, the implementation of the Global Gateway still faces many challenges, such as securing adequate funding and engaging successfully with development banks and the private sector including institutional investors. Moreover, one cultural challenge is upon its effective implementation: the required change of approach, by moving from traditional development “assistance” to “partnership for joint growth”.
How to tackle these issues? How to improve technical coordination between the two shores of the Mediterranean and conceive appropriate financing tools? How to build upon and enhance existing development mechanisms?
