[ad_1]
hear the news
Expansion
Apart from the Ukraine-Russia war, various important global issues including development of infrastructure projects in developing countries, food security and terrorism were discussed on the second day at the G-7 summit in Germany. During this, the G-7 leaders also discussed raising finance for the development of infrastructure projects in developing countries. The G-7 leaders have announced that $600 billion in finance will be raised for this by the year 2027.
Investing in infrastructure projects in developing countries
The ‘Global Infrastructure and Investment Partnership’ (PDII) scheme was unveiled at the summit on Sunday. This was announced by US President Joe Biden. He said that PGII will prove beneficial for all.
He also did a tweet. In which he said that the G-7 countries together will raise about $ 600 billion by 2027. Which will be used in important infrastructure projects in developing countries. These projects will make people’s lives better and will prove to be truly beneficial for them. He said that this will help the economy of all countries.
PDII is the answer of G-7 countries to China
This initiative of G-7 countries is being seen as a response to China. In fact, China has already given huge loans to many countries for infrastructure projects under the ‘Belt and Road Initiative’ (BRI) scheme. This plan of G-7 countries is being seen as a response to this plan of China. Under the BRI scheme, China gives loans to developing countries to build ports, roads and bridges.
Joe Biden’s announcement about India
During this, Joe Biden said about India that the American International Development Finance Corporation (DFC) will invest $ 30 million in the venture capital fund Omnivore Agritech and Climate Sustainability Fund-3. Which will be used to invest in enterprises related to agriculture, food system, climate and rural economy in India.
,
[ad_2]
Source link