The European Union unveiled a $776 million infrastructure financing package for Africa on Tuesday as part of its Global Gateway initiative that is aimed at challenging China’s growing influence in developing regions.
European Commission President Ursula von der Leyen announced the new program during talks with the visiting Chairperson of the African Union Commission, Moussa Faki. The new funding will finance investments in transportation, digitization, and energy connectivity under the auspices of the Global Gateway.
EU stakeholders are undoubtedly also hoping that the money will help to soothe ties with African countries that have become strained over the war in Ukraine, climate change issues, and the continent’s close ties with China. Last week, the EU’s top diplomat, Josep Borrell, even acknowledged that “little by little” Europe’s diplomatic influence in Africa is waning.
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