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The EU launches an initiative in Ecuador to encourage a sustainable economy
Posted On 17 Jun 2022
The European Union (EU) launched this Thursday, June 16, 2022 in Ecuador its Team Europe initiative, a new cooperation framework that, with a contribution of 15.5 million euros, seeks to generate more than 500 million euros in investments in the sector public and private for transition projects towards an open, inclusive and sustainable economy.
The European Commissioner for International Associations, Jutta Urpilainen, announced this initiative, which is part of the Global Gateway, the EU’s new strategy to mobilize between 2021 and 2027 up to 300 billion euros (USD 316,567,539,146.79) in investments around the world.
“This initiative will support Ecuador’s transition to a green and resilient economy by promoting investments,” said Urpilainen.
The main axes will be to offer basic services to local populations such as water and sanitation, and develop climate change mitigation projects to reduce emissions and contribute to Ecuador’s commitments to climate change.
Also help the Ecuadorian Government to reduce chronic child malnutrition, which affects 30% of children under 2 years of age; as well as creating employment opportunities for young people and building capacities for local governments to develop green projects and benefit from other types of green financing.
“Ecuador is a strategic partner for the European Union, both globally and in Latin America. It was important for me as a curator to begin the deployment of the Global Gateway strategy in Ecuador, as part of this tour”, said Urpilainen, visiting this country after passing through Panama before.
