G7 aiming for $600 bn global infrastructure programme: Joe Biden

President Joe Biden introduced Sunday a G7 challenge to rival China’s formidable Belt and Highway Initiative by elevating some $600 billion for international infrastructure programmes in poor international locations.

“Along with G7 companions, we purpose to mobilise $600 billion by 2027 in international infrastructure investments,” the White Home mentioned shortly forward of a speech by Biden unveiling the proposal.

Not like China’s enormous BRI initiative, the proposed G7 funding would come largely from personal buyers and is due to this fact not assured.