Connect with us

News

EU to spend up to 300 billion euros to boost sustainable links around world

Published

on

Global Gateway Initiative to counter China’s Belt and Road:

The European Commission (EC) and the High Representative for Foreign Affairs and Security Policy, yesterday, announced the launch of the Global Gateway, the new European Strategy to boost smart, clean and secure links in digital, energy and transport and strengthen health, education and research systems across the world. It, according to the EU, stands for sustainable and trusted connections that work for people and the planet, to tackle the most pressing global challenges, from climate change and protecting the environment, to improving health security and boosting competitiveness and global supply chains. Global Gateway aims to mobilise up to €300 billion in investments between 2021 and 2027 to underpin a lasting global recovery, taking into account our partners needs and EU’s own interests.

The EC said on its official website: “Global Gateway is about increasing investments promoting democratic values and high standards, good governance and transparency, equal partnerships, green and clean, secure infrastructures and that catalyse private sector investment.

“Through a Team Europe approach, Global Gateway will bring together the EU, Member States with their financial and development institutions, including the European Investment Bank (EIB), and the European Bank for Reconstruction and Development (EBRD) and seek to mobilise the private sector in order to leverage investments for a transformational impact. The EU Delegations around the world, working with Team Europe on the ground, will play a key role to identify and coordinate Global Gateway projects in partner countries.

“Global Gateway draws on the new financial tools in the EU multi-annual financial framework 2021-2027. The Neighbourhood, Development and International Cooperation Instrument (NDICI)-Global Europe, the Instrument for Pre-Accession Assistance (IPA) III, as well as Interreg, InvestEU and the EU research and innovation programme Horizon Europe; all allow the EU to leverage public and private investments in priority areas, including connectivity. In particular, the European Fund for Sustainable Development+ (EFSD+), the financial arm of NDICI-Global Europe will make available up to €135 billion for guaranteed investments for infrastructure projects between 2021 and 2027 up to €18 billion will be made available in grant funding from the EU budget and European financial and development finance institutions have up to €145 billion in planned investment volumes.

“The EU will offer not only solid financial conditions for partners, bringing grants, favourable loans, and budgetary guarantees to de-risk investments and improve debt sustainability – but also promote the highest environmental, social and strategic management standards. The EU will provide technical assistance to partners to enhance their capacity to prepare credible projects ensuring value for money in infrastructure.

Global Gateway will invest in international stability and cooperation and demonstrate how democratic values offer certainty and fairness for investors, sustainability for partners and long-term benefits for people around the world.

This is Europe’s contribution to narrowing the global investment gap, that requires a concerted effort in line with the June 2021 commitment of the G7 Leaders to launch a values-driven, high-standard, and transparent infrastructure partnership to meet global infrastructure development needs.

Global Gateway builds on the achievements of the 2018 EU-Asia Connectivity Strategy, the recently concluded Connectivity Partnerships with Japan and India, as well as the Economic and Investment Plans for the Western Balkans, the Eastern Partnership, and the Southern Neighbourhood. It is fully aligned with the UN’s 2030 Agenda and its Sustainable Development Goals (SDGs) and the Paris Agreement.

Global Gateway projects will be developed and delivered through Team Europe Initiatives. The EU institutions, Member States, and European financial institutions will work together with European businesses as well as governments, civil society and the private sector in partner countries.

Under the overall steer of the President of the Commission, the High Representative/Vice-President of the Commission, the Commissioners for International Partnerships and Neighbourhood and Enlargement will take forward the implementation of Global Gateway, and promote coordination among all actors.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Measures taken to promote integrity in State Revenue Collection Institutions reviewed

Published

on

By

A discussion on the functioning of the Internal Affairs Units established within state institutions and the implementation of the National Anti-Corruption Action Plan 2025–2029 was held at the Presidential Secretariat on 29 May under the patronage of the Secretary to the President Dr Nandika Sanath Kumanayake. The meeting focused on advancing Sri Lanka’s anti-corruption efforts, particularly within key revenue-generating and revenue-collecting institutions, namely the Sri Lanka Customs, the Inland Revenue Department, and the Department of Excise.

During the discussion, the measures currently being implemented to strengthen anti-corruption initiatives and foster a culture of integrity within these institutions were reviewed. Attention was also given to future initiatives aimed at further reinforcing ethical governance and promoting a stronger culture of integrity across these organisations.

The meeting was attended by Additional Secretary to the President Ms Chandima Wickramasinghe, Director General of Customs W. S. K. Liyanagama, Commissioner General of Inland Revenue R. P. H. Fernando, and Commissioner General of Excise M. B. N. A. Pemarathna, together with the heads of the Internal Affairs Units of the respective institutions.

(PMD)

Continue Reading

News

India should be kept out of PC polls, matters related to 13 A – Mano

Published

on

Mano

Leader of the Tamil Progressive Alliance (TPA), Mano Ganeshan, MP, said that India shouldn’t intervene here regarding the long-delayed Provincial Council polls.

The former Yahapalana Minister of National Co-existence, Dialogue and Official Languages (2015-2018), Ganeshan, who represents the main Opposition Samagi Jana Balawegaya (SJB) in the current Parliament, stressed that New Delhi’s intervention wouldn’t do any good for them or for us.

Lawmaker Ganeshan said so when The Island asked him whether the TPA would ask India to pressure the NPP government to conduct PC polls, last held in 2014, during Mahinda Rajapaksa’s second term. Ganeshan said: “India shouldn’t get involved in the issue at hand . Such a strategy is also in their interest, particularly in the context of the evolving global order. India should not be perceived as a pro-Tamil state, but rather as a state that supports Sri Lanka as a whole.”

Ganeshan said that the Indian state bears a moral responsibility in this matter. “That responsibility arises from the fact that India’s diplomacy and military intervention played a decisive role in neutralising the Tamil armed struggle in Sri Lanka. Although India’s mission remained unfinished, it nevertheless lost nearly two thousand soldiers in the process. There was also a prelude to this involvement, when Tamil militant groups received training in India. Consequently, the Indian connection became a sensitive issue for both the Sinhalese and Tamils of Sri Lanka.”

But, whatever had happened, the national issue should be settled among us. ” The solution must be found and settled within Sri Lanka itself. We do not need Western interventions in this regard.”

” In recent years, whenever we in the Tamil Progressive Alliance (TPA) have met Indian dignitaries—including the Prime Minister, the External Affairs Minister, and, most recently, the Vice President—the subjects of the 13th Amendment and Provincial Councils have never featured on our agenda.”

The 13th Amendment is part of Sri Lanka’s Constitution. Therefore, it is for Sri Lankans themselves to decide whether to retain, improve, fully implement, reform, or even repeal it, Ganeshan said.

MP Ganeshan found fault with those who represented the Northern and Eastern provinces for failing to utilise the goodwill and influence India enjoyed with successive Governments of Sri Lanka to pursue an amicable political settlement. The parliamentarian said that they should acted after the end of the war in May, 2009. Unfortunately, they failed to effectively use the Provincial Council framework to consolidate their political position and advance further, thereby earning the confidence of both India and successive Sinhala-majority governments, MP Ganeshan said.

Responding to another query, MP Ganeshan said: “

We should keep the ethnic issue separate from bilateral relations with India, while deepening economic connectivity and cooperation on the basis of mutual benefit and a win-win partnership.”

By Shamindra Ferdinando

Continue Reading

News

US boost for SLAF

Published

on

Helicopters from the US. (Pic courtesy SLAF)

Sri Lanka has taken delivery of 10 TH-57 ‘Sea Ranger’ multi-role helicopters provided by the United States of America to the Sri Lanka Air Force. Air Forces headquarters said that the helicopters arrived here by sea.

The SLAF has said: “The arrival of these aircraft marks a significant milestone in the longstanding defence cooperation between Sri Lanka and the United States and represents a valuable contribution towards enhancing the operational and training capabilities of the Sri Lanka Air Force.

“The helicopters are currently undergoing configurations and technical preparations at SLAF Base Ratmalana. Following the completion of requisite inspections, acceptance procedures and test flights, the aircraft will be inducted into service and deployed for operational duties.

“The TH-57 fleet is expected to significantly strengthen the Air Force’s aviation training capacity while enhancing the ability to support a broad spectrum of national requirements. The aircraft will primarily be employed for pilot training, humanitarian assistance and disaster response (HADR) operations, search and rescue (SAR) missions and other public service commitments undertaken by the Sri Lanka Air Force.”

Continue Reading

Trending