“Partnership for Global Infrastructure and Investment” launched by G7 leaders

Berlin: G7 leaders have launched the “Partnership for Global Infrastructure and Investment”, promising to mobilise 600 billion Dollars for sustainable infrastructure projects in low and mid-income countries. USA alone has promised to share 200 billion Dollars. Germany’s Olaf Scholz said that like the broader G7 agenda, the infrastructure work is also affected by the current geopolitical situation. The G-7 program is seen as a response to China’s so-called Belt and Road Initiative which west perceive as coercive measure by China to debt trap the host county . German Presidency also said that G7 is working in Just Energy Transition Partnership with India, Vietnam, Senegal and Indonesia. Such a partnership was announced with south Africa in the last G7 meet.