From the G7 announced an investment of 600,000 million dollars for developing countries

In the framework of the G7, the president of the United States, Joe Biden, announced the launch of an investment program for developing countries. The plan will run through 2027 and will have $600 billion. From the “Global Partnership for Infrastructure”, they assured that the objective is “to provide sustainable quality infrastructures”. German Chancellor Olaf Scholz said the G7 “was given as an ambition to make the world a better offer in terms of infrastructure investment.”

Joe Biden and Olaf Scholz at the G7. Source: AP

From the White House they intend to position themselves against China, which so far has financed several projects in peripheral countries through the “New Silk Roads” program, and has also allocated investments to guarantee access to some raw materials. In this sense, the eastern power was accused of carrying out infrastructure works through disadvantageous loans, or that directly go to the detriment of the most vulnerable economies, aggravating the debt problems in the future. Regarding the plan involving the United States, a government spokesman said: “Sub-Saharan Africa will clearly be a higher priority,” adding that Central America, Southeast Asia or Central Asia are also “very important regions.”

Original source in Spanish

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