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Some of the highlighted initiatives include a solar-powered project in Angola, a vaccine manufacturing facility in Senegal, and a 1,609 km submarine telecommunications cable connecting Singapore to France via Egypt and the Horn of Africa.

Leaders of the G7, including US President Joe Biden and UK Prime Minister Boris Johnson, have laid out a plan meant to tackle China’s Belt and Road Initiative-BRI.

The BRI is a global infrastructure development strategy adopted by the Chinese government in 2013 to invest in nearly 70 countries and international organizations. It is considered a centerpiece of China’s foreign policy. The BRI forms a central component of Xi’s “Major Country Diplomacy” strategy, which calls for China to assume a greater leadership role for global affairs in accordance with its rising power and status.  As of March 2022, 146 countries were listed as having signed up to the BRI. China has invested about $2 trillion so far in this initiative. 

G7 are mobilising $600 billion in funding for the developing world with a move dubbed Partnership for Global Infrastructure and Investment (PGII). US President Joe Biden said the plan would deliver returns for everyone.

China’s multi-trillion dollar infrastructure initiative is criticised for hitting nations with too much debt. The scheme would allow countries to “see the concrete benefits of partnering with democracies,” the US president added.

The plan calls on G7 leaders to raise $600bn over five years to fund the launch of infrastructure projects in middle and low-income countries. The US has promised to raise $200bn (£162bn) of the total through grants, federal funds and private investment, while the EU has announced a further 300bn euros (£257bn).

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Black wash

Black wash

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