The European Comission announced that it will invest 45,000 million euros to take relations between the EU and Latin America and the Caribbean to another level. The new cooperation and investment agenda will focus on projects ranging from the production of clean hydrogen or the expansion of the high-performance data cabling network to the production of more advanced mRNA vaccines.
“Latin America and the Caribbean have a lot to contribute to the present and future of Europe. In the same way, Europe has the capacity to contribute to our region as a whole, thinking about the benefit of citizens and the planet”, said Sergio Díaz-Granados, executive president of the Development Bank of Latin America and the Caribbean (CAF). ). This occurred during the EU – Latin America and the Caribbean business roundtable, organized by said institution, the European Commission and the IDB.
In total, 67 investment opportunities have been identified in the region. Among the examples of investment projects in which CAF will participate are those related to bringing connectivity to 85% of Colombians by 2026, hydrogen production in Chile and Uruguay, sustainable mobility in San José, Quito, Bogotá, Montevideo and Sao Paulo; as well as the spread of renewable energy in Jamaica, and water and sanitation projects to combat chronic child malnutrition throughout Ecuador, among others.
According to CAF, the Global Gateway agenda (the EU investment and cooperation platform at a global level) will focus on Latin America and the Caribbean in the fight against climate change, the promotion of renewable energies, digital services, electromobility and a new role for natural resources, with technology transfer and strengthening of agribusiness.
In this regard, the President of the European Commission, Úrsula von der Leyen, expressed the desire to reach the maximum potential in relations between Europe and Latin America and the Caribbean. She highlighted the importance of promoting the growth of industries, the development of global value chains and the growth of the middle class.
For his part, the President of Spain, Pedro Sánchez, stressed the need to deepen trade agreements and economic integration between the regions.
While Luiz Ignacio Lula da Silva, President of Brazil, highlighted the fundamental role of companies, universities and civil society in strengthening relations.
Along the same lines, Ilan Goldfajn, president of the IDB, emphasized the importance of working together to address global challenges, such as climate change and the protection of biodiversity.
Source: Larepublica
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