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G7 summit: members adopt spending plan to rival China

by Kunle Awosiyan
G7

G7 leaders are seeking spending plan to rival China

The plan would support lower- and middle-income countries in building better infrastructure.

This was contained in a statement at the G7 summit in the English county of Cornwall.

The leaders said they would offer a “values-driven, high-standard and transparent” partnership.

To this end, President Joe Biden said he wanted the US-backed Build Back Better World (B3W) plan to be a higher-quality alternative to a similar Chinese programme.

China’s Belt and Road Initiative (BRI) has helped finance trains, roads, and ports in many countries but it has been criticised for saddling some countries with debt.

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