West’s Belt and Road Initiative progresses

At the G20 Summit in Bali, Indonesia, President Biden, Indonesian President Widodo, and EC President Von der Leyen co-hosted a group of G20 leaders committed to deepen engagement under the Partnership for Global Infrastructure and Investment (PGII), widely seen as the West’s answer to China’s Belt and Road Initiative.

PGII investments aim to create lasting positive impacts for partner countries, strengthen the resilience of communities, and support inclusive, sustainable development, as well as benefit partners’ economic security and global supply chains.

Ministers from Argentina, Canada, France, Germany, India, Japan, the Republic of Korea, Senegal, and the United Kingdom, joined the EU, US and Indonesia to highlight PGII collaboration and support among likeminded partners globally.

In his remarks, President Biden delivered an update on PGII’s progress and impact to date. He announced new projects and followed up on several announced in June 2022 at PGII’s G7 formal launch, providing concrete examples of how the US and its partners are working together to mobilise capital to deliver quality infrastructure and sustainable development.

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