The European Union will allocate €17 billion for the economic and investment plan of the Eastern Partnership (EaP), including €2.3 billion aimed at creating the Black Sea strategic submarine electricity cable between Georgia and the EU.
The electricity cable will connect Georgia and the entire South Caucasus to Romania, allowing the export of green energy to Europe and the strengthening of mutual resilience.
Oliver Varhelyi, EU Commissioner for Neighbourhood and Enlargement, said the plan would include transport projects, the creation of a green railway, the strengthening of trade routes to the EU, digital communication projects such as the fiber optic cable under the Black Sea, and the above-mentioned electricity cable.
Economic and Investment Plan of #EasternPartnership ⏩️ €17b
It includes 📌 transport projects, eg. Railways ensuring Green lanes & reinforcing trade routes to the 🇪🇺📌digital connectivity projects, eg. Fibre optic cable under the Black Sea
📌 electricity cable, eg. 🇬🇪🇪🇺cable⤵️ pic.twitter.com/koegk8M9qF
— Oliver Varhelyi (@OliverVarhelyi) December 11, 2022
Global Gateway is Europe’s offer for connecting the world with sustainable investments to boost smart, clean and secure links in digital, energy, transport and climate-relevant sectors and to strengthen health, education and research systems. It will help to tackle the most pressing global challenges, from fighting climate change, to improving health systems, and boosting the sustainability and security of global supply chains.