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Critics denounce commercial motives in EU’s primary international investment program


Anti-poverty campaigners are criticizing the European Commission’s Global Gateway initiative, claiming that it prioritizes business interests over development goals. The initiative, which is meant to be the EU’s response to China’s Belt and Road initiative, aims to boost trade and investment with countries outside of Europe.

Campaigners argue that the focus on the private sector in the Global Gateway will not effectively address poverty and inequality in developing countries. They believe that the EU should instead prioritize development projects that directly benefit impoverished communities.

However, officials from the European Commission defend the private sector focus, arguing that it is more efficient and effective in promoting economic growth and development. They believe that by partnering with businesses, the Global Gateway can create sustainable and long-lasting solutions to poverty and other development challenges.

The debate between anti-poverty campaigners and EU officials highlights the complexities of promoting development and economic growth in developing countries. While some see the private sector as a key player in driving progress, others worry that business interests may overshadow the needs of vulnerable populations.

As the Global Gateway initiative moves forward, it will be important for the European Commission to strike a balance between promoting business interests and addressing poverty and inequality. Finding ways to harness the power of the private sector while also prioritizing the needs of marginalized communities will be crucial in achieving the initiative’s development goals.

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Photo credit www.euronews.com

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