6/12, 1:39 PM (Source: TeleTrader)
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G7 agrees on a plan to rival China's Belt and Road

United States President Joe Biden and other leaders from the Group of Seven (G7) have "agreed to launch the bold new global infrastructure initiative Build Back Better World (B3W)," the White House revealed on Saturday.

The aim of the B3W plan is to direct "hundreds of billions of dollars" to assist with investments in infrastructure for low- and middle-income countries throughout the globe.

Back in March, Biden suggested to the United Kingdom Prime Minister Boris Johnson, the host of the ongoing G7 summit, that the West should introduce an alternative to China's Belt and Road Initiative.

Breaking the News / MS