G7 summit: Leaders detail $600bn plan to rival China’s Belt and Road initiative


G7 leaders have detailed plans to mobilise $600bn in funding for the developing world in a move seen as a counter to China’s Belt and Road plan.

The Partnership for Global Infrastructure and Investment (PGII) relaunches a scheme unveiled at last year’s G7 talks in England.

US President Joe Biden said the plan would deliver returns for everyone.

China’s multi-trillion dollar infrastructure initiative is criticised for hitting nations with too much debt.

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