Prime Minister Sheikh Hasina’s upcoming visit to Brussels will give Bangladesh an opportunity to integrate with the Global Gateway, which is being seen by the analysts as a European version of China's Belt and Road Initiative (BRI).
“This’ll dispel the perception that Bangladesh is tilted towards China. The message is Bangladesh wants to maintain good relations with all and infrastructure development is its top priority. Nothing else,” Professor of International Relations Dr Delwar Hossain of Dhaka University told Dhaka Tribune.
“Global Gateway is an opportunity for Bangladesh,” he said.
The issue came to the fore as Foreign Minister Dr Ak Abdul Momen announced on Thursday that the prime minister would join the Global Gateway Forum on October 25-26 in Brussels at the invitation of European Commission President Ursula von der Leyen.
During the visit, the prime minister is expected to witness the signing of a €395 million loan agreement with the European Investment Bank (EIB), the lending arm of the European Union, for green energy projects.
Of that, €45 million will be provided as a grant by the EU and the remaining €350 million will be given as loan. This project is part of Bangladesh’s initiative to reduce its reliance on fossil fuels and combat climate change.
The prime minister is also expected to meet diplomats and leaders of the EU before her return to Dhaka on October 27.
The European Commission and the EU High Representative in 2021 set out the Global Gateway, a new European strategy to boost smart, clean and secure links in digital, energy and transport sectors and to strengthen health, education and research systems across the world.
Between 2021 and 2027, Team Europe, meaning EU institutions and EU Member States jointly, will mobilise up to €300 billion of investments for sustainable and high-quality projects, taking into account the needs of partner countries and ensuring lasting benefits for local communities, according to the project paper.
“This will allow the EU’s partners to develop their societies and economies, but also create opportunities for the EU Member States’ private sector to invest and remain competitive, whilst ensuring the highest environmental and labour standards, as well as sound financial management.”
The Global Gateway is the EU’s contribution to narrowing the global investment gap worldwide. It is in line with the commitment of the G7 leaders from June 2021 to launch a values-driven, high-standard and transparent infrastructure partnership to meet global infrastructure development needs. The Global Gateway is also fully aligned with the UN’s Agenda 2030 and its Sustainable Development Goals, as well as the Paris Agreement.
India’s economy will become carbon neutral by the year 2070, the country’s prime minster has announced at the COP26 climate crisis summit in Glasgow. The target date is two decades beyond what scientists say is needed to avert catastrophic climate impacts. India is the last of the world’s major carbon polluters to announce a net-zero target, with China saying it would reach that goal in 2060, and the United States and the European Union aiming for 2050.
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
China's carbon emissions are vast and growing, dwarfing those of other countries. Experts agree that without big reductions in China's emissions, the world cannot win the fight against climate change. In 2020, China's President Xi Jinping said his country would aim for its emissions to reach their highest point before 2030 and for carbon neutrality before 2060. His statement has now been confirmed as China's official position ahead of the COP26 global climate summit in Glasgow. But China has not said exactly how these goals will be achieved.
A crucial U.N. conference heard calls on its first day for the world's major economies to keep their promises of financial help to address the climate crisis, while big polluters India and Brazil made new commitments to cut emissions. World leaders, environmental experts and activists all pleaded for decisive action to halt the global warming which threatens the future of the planet at the start of the two-week COP26 summit in the Scottish city of Glasgow on Monday. The task facing negotiators was made even more daunting by the failure of the Group of 20 major industrial nations to agree ambitious new commitments at the weekend.