The G7 countries have launched a major investment program of US$600 billion (approximately R$3.1 trillion) for developing nations, aimed at responding to major works financed by China, announced this Sunday (26) the president of the United States, Joe Biden.
“With the G7 partners, we seek to mobilize 600 billion dollars by 2027 for global investments in infrastructure”, declared the White House shortly before a speech by Biden, in which he presented this proposal, during the summit of the seven most industrialized countries in the world. world in southern Germany.
The “Partnership for Global Infrastructure” must, according to the same source, “provide sustainable quality infrastructure”.
The G7 “established as an ambition to make the world a better offer in terms of investment in infrastructure”, said German Chancellor Olaf Scholz, who presented the project alongside the American president.
The United States promised to “mobilize” about “200 billion dollars” (about R$ 1 trillion) in five years for this program. But that word, “mobilize”, does not mean that states will provide these huge amounts.
Western countries want to stand out from China, which has invested massively in many countries to build infrastructure through the so-called “New Silk Roads” program and to guarantee access to some raw materials.
China is accused of carrying out projects through unprofitable or downright dangerous loans, which will exacerbate the debt problems of the most vulnerable countries.
Beijing’s offensive “has been going on for a few years and it translates into a lot of cash investments and multiple investments,” a senior White House official said on Sunday. “But it’s not too late,” he assured in relation to the G7 initiative.
“Sub-Saharan Africa will clearly be a higher priority” of the association launched by the G7, added the senior US official.
In addition, he assured that Central America, Southeast Asia and Central Asia are also “very important regions”.
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