EU and IFC Announce €291 Million Guarantee Program to Finance the Global Gateway through Support for Private Sector Investments
United States, April 28 -- The European Commission and IFC have signed a guarantee agreement to fund the Global Gateway and support private sector investments, job creation and economic growth across the world, with a focus on EU enlargement countries, the Eastern and Southern Neighbourhood, sub-Saharan Africa, the Asia Pacific region, and Latin America and the Caribbean.Through the Better Futures Programme, the European Union will provide up to €291 million in financial guarantees to IFC to de-risk investments. This is expected to mobilize more than $1 billion in private sector investments for Global Gateway projects across the energy, manufacturing and agriculture sectors, while also supporting micro and smaller businesses and clima...
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