G7 Unveils $600 Billion Global Infrastructure Plan To Counter China’s ‘Belt And Road’
President Biden and G7 leaders pledged $600bln to a new global infrastructure project for emerging market economies to counter the Chinese regime’s Belt and Road initiative.
G-7 leaders from the US, Canada, Germany, Italy, Japan, and the European Union gathered at a summit in Bavaria, Germany, on Sunday and unveiled the Partnership for Global Infrastructure and Investment (PGII) that will “will deliver game-changing projects to close the infrastructure gap in developing countries, strengthen the global economy and supply chains, and advance U.S. national security,” a White House press release read.
During the summit, Biden said the U.S. would deploy $200bln in grants, federal funds, and private investment over five years for lower- and middle-income nations to boost infrastructure.- READ MORE
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