G-7 announces multibillion-dollar plan to compete with China’s Belt and Road

G-7 announces multibillion-dollar plan to compete with China’s Belt and Road
BERLIN: The G-7 countries have announced plans to launch a 600 600 billion infrastructure project to compete with China’s global belt and road.

According to the World News Agency, the G-7 countries have announced that they will finance partnerships in developing countries for global infrastructure and investment infrastructure projects.

The G7 countries reaffirmed their commitment to finance infrastructure projects in developing countries and to provide 600 600 billion in private and public funds over 5 years to counter China’s multibillion-dollar Belt and Road project. ۔
The president said low- and middle-income countries would raise 200 billion over the next five years for the project, which would help tackle climate change as well as improve global health, gender equality and digital infrastructure. Will provide

The president of the European Commission said that European countries would raise 300 billion euros over the same period to build a sustainable alternative to China’s Belt and Road Initiative scheme.

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The leaders of Italy, Canada and Japan also outlined their plans, some of which have been announced separately.

It should be noted that China’s investment scheme includes development and programs in more than 100 countries aimed at modernizing the ancient Silk Road from Asia to Europe.

White House officials have objected to China’s plan, saying it has provided too little tangible benefits to many developing countries and trapped borrowers, leaving China more vulnerable than host countries. There is benefit.