US rolls out global infrastructure projects to counter China’s BRI and problematic lending practices

According to a senior US official, the United States plans on investing in five to 10 large infrastructure projects across the globe in January 2022 as part of a broader Group of Seven initiative to counter China’s Belt and Road Initiative.

A U.S. delegation led by Daleep Singh, US President Joe Biden’s deputy national security adviser, has identified at least 10 promising projects in Senegal and Ghana.

US officials are meeting with private sector leaders as well as with individual heads of governments as they source for projects which will be funded under the Build Back Better World (B3W) initiative launched by the G7 rich democracies in June.

Such plans are scheduled to be finalized during a G7 meeting in December.

The B3W initiative is aimed at narrowing the $40 trillion in infrastructure investment that developing countries will need by 2035 and providing an alternative to problematic lending practices by China, said officials.

Washington will offer developing countries “the full range” of U.S. financial tools, including loan guarantees, equity stakes, grants, political insurance and technical expertise to focus on climate, digital technology, health and gender equality, said officials.

Categories: Creativity, Economy & Finance, Entrepreneurship, Geopolitics, HR & Organization, Strategy, Sustainability

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