The G-7 is building 60 billion counter-fund to China’s BRI

Newshub18 :The G-7 is building 60 billion counter-fund to China’s BRI.

The G-7 leaders have adopted a detailed plan to create a হাজার 60 billion fund for developing countries. Apparently, the alliance of developed countries has taken this plan as a counter measure to China’s regional ‘Belt and Road Initiative’ (BRI) project. News from BBC and Al-JazeeraThe Global Infrastructure and Investment Partnership (PGII) project was renamed at the G-7 summit in Germany on Sunday. The issue was first raised at the G-7 summit in Britain last year.

US President Joe Biden said everyone would benefit from the plan. “I want to make it clear,” he said. It is not something to help or charity. This is investment. Everyone will benefit. ‘
The US president said the project would allow countries to reap specific benefits in partnership with the democratic world.
According to the adopted plan, the G-7 leaders were called upon to raise হাজার 60 trillion over five years to raise funds for infrastructure projects in middle and low-income countries.
The United States has pledged তো 20 trillion in grants, federal funding and private investment. The European Union has announced it will raise হাজার 25.6 billion.
These initiatives will accelerate tackling climate change, raising the standard of the global health system, achieving gender equality and building digital infrastructure. Notable initiatives include the adoption of a solar-powered project in Angola, the construction of a vaccine factory in Senegal, and the installation of a 1,709-kilometer submarine telecommunication cable from Singapore to France via Egypt and the Horn of Africa.

The project has been taken as a counter initiative of China’s ambitious BRI. In 2013, the BRI project was adopted by Chinese President Xi Jinping. Under this, economically emerging countries are being financed for the construction of ports, roads and bridges.
European Commission President Ursula von der Leyen said the latest project aims to present a positive strong investment incentive to the world. It will show our partners in the developing world that there is an alternative for them

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