The EU seeks to invest $340 billion in developing nations to boost sectors like infrastructure. This looks a lot like George Soros’ proposed Marshall Plan for Africa, but it extends to other developing countries outside Africa.
For this to work, their should be increased stability in troubled spots in the developing countries.
Analysts have advised that for such development plans, it should be ‘the more the merrier’.
Sources say the EU would seek to fund national projects that ‘make business sense’ in the developing countries.
The Global Gateway is designed to increase investment and not development aid.
For this to work as planned, the EU amd national governments of developing countries have a lot to do to convince investors that the risk is not prohibitive. I speculate that the EU would give conditions like they gave European countries who wanted to accede to the EU.
EU top official Ursula Von Der Leyen has pointed out that the Global Gateway projects would present alternative offers to China’s Belt and Road Initiative.