Leaders of the G7, including US President Joe Biden (L) and UK Prime Minister Boris Johnson (R), proposed a plan geared towards competing with China’s Belt and Road Initiative 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. “I want to be clear. This isn’t aid or charity,” Mr Biden said of the G7’s PGII scheme. “It’s an investment that will deliver returns for everyone.” The scheme would allow countries to “see the concrete benefits of partnering with democracies,” the US president added. The […]