“The Global Gateway provides the framework for ambitious and strategic partnerships that power structural transformation; the new partnerships with the Democratic Republic of Congo and Zambia will support the development of sustainable and resilient critical minerals value chains, while creating quality jobs”, said the president of the European Commission.
Quoted in a statement at the end of the Global Gateway Forum, which took place on Wednesday and Thursday, Ursula von der Leyen stressed that “the Lobito transport corridor will also ‘change the game’ to increase regional and global trade”, referring to the project to create a transport corridor between the Democratic Republic of Congo (RDCongo), Zambia and Angola, to the port of Lobito.
The agreement signed this Thursday between the European Union, the United States, DRCongo, Zambia, Angola, the African Development Bank and the African Finance Corporation follows the G20 summit in New Delhi last month, within the scope of the Partnership for Global Infrastructure and Investment (PGII).
In the statement, the EU says the agreements will establish “close cooperation” in five areas: integration of sustainable minerals value chains, mobilization of finance for infrastructure development, cooperation to ensure sustainable and responsible production, cooperation in research and innovation, and building capacity to apply the relevant rules.
The memorandum presents the main lines of collaboration between the different parties and defines the role and objective of the development of the Lobito Corridor, providing for priority cooperation in three areas: investments in transport infrastructure, measures to facilitate trade, development economic growth and traffic, and support to related sectors to increase sustainable and inclusive economic growth and investment in these three African countries in the long term.
The cooperation agreement “ensures that DRCongo and Zambia’s resources serve to sustain sustainable, fair, inclusive and peaceful socio-economic development, while enabling the EU to deliver on its ambitious Green Deal, strengthening digital and green transitions in both the regions”.
The European strategy implemented in the Global Gateway aims to mobilize up to 300 billion euros in public and private investments, to finance sustainable and quality infrastructures, including in Africa and Latin America, particularly in the areas of transport, research and education, digital, energy and health.
Global Gateway was launched in the context of a growing rivalry between the main powers in infrastructure and logistics projects in southern countries, namely with China, and comes just days after the 10th anniversary of its Belt and Road initiative, marked with a forum in Beijing.
Regarding global health projects, an additional amount of 500 million euros is allocated, for a total of 1.6 billion euros, to reinforce the recently launched partnership between the EU, the European Investment Bank and the Bill & Melinda Gates, and an additional 134 million euros to increase local production and equitable access to quality, safe, effective and affordable health products in six African countries.
Source: Ver Angola