URGENT: G-7 agrees on new project to counter China's infrastructure project

Politics Economy

The leaders of the Group of Seven industrialized countries on Saturday agreed to launch a new initiative to provide financing for infrastructure in the developing world to counter China's Belt and Road Initiative. The "Build Back Better World" initiative, with the participation of the private sector, is intended to collectively catalyze hundreds of billions of dollars of infrastructure investment for low- and middle-income countries in the coming years, the White House said.

Kyodo News

Kyodo News