President von der Leyen participates in the G7 Summit

(Source: European Commission)

“Democracies, when they work together, provide the single best path to deliver results for our people and people all over the world, on climate, on health security, and on digital innovation”, said Ursula von der Leyen, President of the European Commission, speaking at the G7 Summit about the pressing challenges ahead of us.

The G7 Summit, hosted by this year’s German presidency, is taking place from 26 to 28 June in Schloss Elmau. At the Summit, leaders of the seven world leading economies will discuss topics ranging from global economy, partnerships for developing countries and foreign and security policy, to food security and digital transformation.

In G7 Summits, the EU is represented by the President of the European Commission, Ursula von der Leyen and the President of the European Council, Charles Michel.

Regarding the strengthening the global economy, President von der Leyen stressed the need to tackle inflation, support environmental and social sustainability and strengthen supply chains resilience.

“The biggest driver of inflation is energy prices. In Europe, our response is RePowerEU: diversification of supply, energy savings and renewables. We are working intensively with allies and partners around the world,” she said.

Speaking on the occasion of the launch of the Partnership for Global Infrastructure and Investment, President von der Leyen underlined the importance of cooperation in maximising the potential of investments and demonstrating ‘the power of development finance when it reflects democratic values’.

“On our side, Europe’s response to the world’s investment gap is Global Gateway”, she said reminding that this was a EUR 300 billion initiative for investment in sustainable quality infrastructure. If focuses on ‘investments that are transparent, improve everyday lives and bring real benefit for the communities on the ground’ she explained.

“We will optimise our collective power because it is up to us to give a positive, powerful investment impulse to the world to show our partners in the developing world that they have a choice and that we intend to step up in solidarity to meet their development needs”, she concluded.

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