The EU’s flagship foreign investment programme Global Gateway must become far more transparent, governments have urged the European Commission in their first formal position on the scheme.
In conclusions agreed earlier this week, EU ministers described the Global Gateway as a “positive and comprehensive offer”.
But details on projects and how they are actually financed have been thin on the ground.
The 27 said that there was a “need for clearer and more transparent project selection” along with “regular reporting…and enhanced monitoring of results and impact.”
A similar message has come from MEPs. “Hardly any Europeans have ever even heard of this strategy, which claims to have mobilised over €400bn in investment,” said Barry Andrews, the chair of the parliament’s development committee.
