PGII is an initiative of USD 600 billion, for top-quality infrastructure, where Europe is proud to contribute half of that commitment. We want an eyes-level partnership with the partner countries, we want to find solutions to the real challenges low- and middle-income countries are facing today. And we want to be part of the investments in infrastructure projects that bring good jobs and lasting growth, and, very importantly, that create value locally.
To reach this goal, we need the private sector – this could take us from the billions to the trillions –, we need you and that is why we are here today. I know that you want to know that we are in this for the long haul. Yes, this is for sure: We are in this for the long haul. And we want to work with our partner countries in a way that we have full transparency, strengthen the regulatory environment and develop skills. I know that such a conducive and clear regulatory environment is essential for you to have the necessary predictability and security for capital investment.
Global Gateway, the European part of this initiative, has started 90 projects worldwide this year. Let me share just three examples. In Namibia, we are providing guarantees for private investments in green hydrogen. The goal here is twofold: to ensure clean energy for the country itself and generate new revenue for the country in a way that it is able to export the green hydrogen, for example, to the European Union.
In Rwanda, we are working with a vaccine producer to bring the mRNA technology to Rwanda so that in this country, together with you, the private sector, the country is able to produce the life-saving vaccines for the region.
In the Philippines, we are connecting our Copernicus satellites to build the first earth observation system in Southeast Asia. And Nokia – who is here with us today – is investing in 4G and 5G infrastructure. Here, the cooperation will support national and regional capacities to tackle the impact of climate change and improve disaster risk management.
These were a few brief examples of the incredible power that public-private partnership can unleash. And I am glad to announce that we are now mobilising an extra EUR 4 billion in loans for the Asian and Pacific regions.
Ladies and Gentlemen,
The G7 partnership is our effort to be part of the solution to the infrastructure investment gap. We want to put a better offer on the table. If we are in a race, we are in a race to the top. And we will continue to work after the Hiroshima Summit with the next G7 presidencies, in 2024 in Italy and in 2025 in Canada. So we are happy to have you on board.
I want to already invite you to the first Global Gateway Forum in Brussels in October this year.
Thank you for joining us.
