G7 Launches $600 Billion Plan To Compete With China's Belt & Road Project

G7 leaders announced on June 26 to raise $600 billion in funds for the developing world as a response to China's Belt and Road initiative. Partnership for Global Infrastructure and Investment relaunches a plan. US President Joe Biden announced $200 billion grants, government cash, and private investment over five years to assist initiatives in low and middle-income nations that address climate change, promote global health, gender parity, and digital infrastructure.