The leaders of the world's seven industrialized nations (G7) spent $ 600 million on their first day in Germany to support investment in low- and middle-income countries in various fields. According to them, this plan is a kind of long-term investment and is a sustainable alternative to the "China Belt and Road" plan and its influence in the region.
Publish dateMonday 27 June 2022 - 10:48
Story Code : 254868
Afghan Voice Agency (AVA), US President Joe Biden said that the United States has invested $ 200 billion in federal and private sector over the next five years to support investment in low- and middle-income countries.
"I have to be clear, this is not a grant or a charity," Biden said. This is an investment that will benefit everyone.
European Commission President Ursula van der Leyen also stressed that European countries will spend $ 300 billion on various projects over the same five-year period to provide a sustainable replacement for the China Belt and Road project launched by Chinese President Xi Jinping in 2013.
China cooperates with them by lending to various countries, and one example of this cooperation is the New Silk Road project, also called "One Belt-One Road". China has invested in various projects to implement this large project, and is the primary investor in many low- and middle-income countries, and has lent to some.
Western countries claim that China seeks to infiltrate and depend on weak countries with this plan.
According to the report, the leaders of Italy, Canada and Japan also talked about their plans in this regard, some of which had already been announced. French President Emmanuel Macron and British Chancellor Boris Johnson will also take part.
The two-day summit of the Group of Seven industrialized nations is being held in Germany, while the NATO summit will be held in Brussels on Tuesday.
This year's G7 summit is overshadowed by the Ukraine war and its far-reaching consequences, from energy shortages to a food crisis. It is expected that the leaders present at the summit will seek to form a united front in support of Ukraine and put pressure on the Kremlin.
"I have to be clear, this is not a grant or a charity," Biden said. This is an investment that will benefit everyone.
European Commission President Ursula van der Leyen also stressed that European countries will spend $ 300 billion on various projects over the same five-year period to provide a sustainable replacement for the China Belt and Road project launched by Chinese President Xi Jinping in 2013.
China cooperates with them by lending to various countries, and one example of this cooperation is the New Silk Road project, also called "One Belt-One Road". China has invested in various projects to implement this large project, and is the primary investor in many low- and middle-income countries, and has lent to some.
Western countries claim that China seeks to infiltrate and depend on weak countries with this plan.
According to the report, the leaders of Italy, Canada and Japan also talked about their plans in this regard, some of which had already been announced. French President Emmanuel Macron and British Chancellor Boris Johnson will also take part.
The two-day summit of the Group of Seven industrialized nations is being held in Germany, while the NATO summit will be held in Brussels on Tuesday.
This year's G7 summit is overshadowed by the Ukraine war and its far-reaching consequences, from energy shortages to a food crisis. It is expected that the leaders present at the summit will seek to form a united front in support of Ukraine and put pressure on the Kremlin.
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