G7 summit: Leaders detail $600bn plan to rival China's Belt and Road initiative

27.06.2022, 11:29 bbc.com

G7 leaders have detailed plans to mobilise $600bn in funding for the developing world in a move seen as a counter to China's Belt and Road plan. The Partnership for Global Infrastructure and Investment (PGII) relaunches a scheme unveiled at last year's G7 talks in England. US President Joe Biden said the plan would deliver returns for everyone. China's multi-trillion dollar infrastructure initiative is criticised for hitting nations with too much debt.