On 23 June 2026, European Commissioner for International Partnerships Jozef Síkela announced a new Global Gateway investment of more than €260 million in the EllaLink fibre-optic cable linking Europe and Latin America, during his speech at the 2nd EU-Brazil Investment Forum in Brasília. The investment will extend the cable into the Brazilian states of Pará and Maranhão, with onward links to French Guiana and the Caribbean. Síkela also highlighted progress on four priority critical raw materials projects under the EU-Brazil Critical Raw Materials Task Force, launched in 2025, and launched the next phase of the H2Uppp renewable hydrogen programme with GIZ.
Síkela, on his first visit to Brazil, framed the investments as part of the EU's Global Gateway strategy, which he described as a partnership model based on mutual benefit and long-term impact, contrasting it with what he called a "me-first" approach and transactionalism in global politics. He noted that the EU is Brazil's second-largest trade partner and accounts for almost 50% of foreign direct investment in the country. The speech contained several concrete proposals: the €260 million EllaLink expansion, the advancement of four critical raw materials projects towards financing and offtake agreements, and the next phase of the H2Uppp programme. Síkela also mentioned that the EU is ready to finance a further 7-kilometre expansion of São Paulo's Metro Line 6, the largest public-private infrastructure project in Latin America, which is being built by companies from Spain, France and Germany and is expected to serve over 630,000 passengers per day once completed.
The speech did not provide numerical targets or deadlines for the new initiatives, but it described the EllaLink investment as a concrete commitment. Síkela also referenced the EU-Mercosur trade agreement, calling it a foundation for stability and shared prosperity, and urged the private sector to use the forum to turn ideas into bankable investments. The policy orientation of the speech is strongly conciliatory and partnership-focused, emphasising cooperation, local value creation, and long-term engagement rather than extractive models. The speech did not address any contentious issues or divergences with Brazil, and no prior coverage of this event exists in the available record.
EU and Brazilian businesses in digital infrastructure, clean energy, and critical raw materials stand to benefit from new investment opportunities and derisking instruments. Brazilian commuters and workers gain from infrastructure projects like Metro Line 6, which will create 9,000 construction jobs and improve mobility. EU taxpayers and the European Commission assume financial risk through Global Gateway guarantees and grants. Environmental groups may view the focus on renewable hydrogen and sustainable value chains positively, but the lack of specific environmental safeguards in the speech could draw scrutiny.