WASHINGTON, June 26 — The United States aims to raise US$200 billion (RM880 billion) in private and public funds over five years to fund needed infrastructure in developing...
WASHINGTON, June 26 — The United States aims to raise US$200 billion in private and public funds over five years to fund needed infrastructure in developing countries under a G7 initiative aimed at countering China’s multitrillion-dollar Belt and Road project, the White House said today.
Biden will unveil several specific projects at a G7 side event, joined by leaders from Britain, Germany, Japan, the European Union and Canada, vowing to focus on projects that help tackle climate change as well as improve global health, gender equity and digital infrastructure. Notably absent will be French President Emmanual Macron who had formally joined the Chinese infrastructure programme.
China’s Belt and Road Initiative scheme, which Chinese President Xi Jinping launched in 2013, involves development and investment initiatives in over 100 countries, with a range of projects including railways, ports and highways.
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