Commentary
The Global Infrastructure and Investment with $600 billion in funding is a good idea—but comes 10 years later and pales in comparison to the $1 trillion estimated for China’s Belt and Road Initiative.
On June 26, the White House issued the “Memorandum on the Partnership for Global Infrastructure and Investment” (GII) to fund development in low- and middle-income countries.
The GII was presented at the June 26 meeting of the G-7, which includes Canada, France, Germany, Italy, Japan, the United Kingdom, the United States, and the European Union. An initial pledge of $200 billion by the United States is expected to increase to $600 billion in funding over the next five years as the G-7 governments and private companies make additional contributions….