The US is preparing to invest in five to ten infrastructure schemes in the country in January. These will be huge projects, which will be ready in different parts of the world. They aim to cut down on China's Belt and Road Initiative (BRI). America has planned with the most powerful G7 countries to respond to China.
A delegation led by President Joe Biden's deputy national security adviser Dalip Singh has identified ten projects, which will be in Senegal and Ghana, after several country visits, a senior US government official said. Officials are scouting for the project under the 'Build for a Better World (B3W)' initiative by G7 Group.
G7 launched B3W in June. Under the plan, such projects are to be selected in developing countries by 2035, on which 40 trillion dollars (about Rs 2960 lakh crore) should be made available.
China has so far invested Rs 3.5 lakh crore on its project
China's Belt and Road Initiative was launched by President Xi Jinping in 2013. According to the Observer Research Foundation, through this, China wants to connect Asia, Africa, and Europe by land and sea. Under this, it has started many infrastructure schemes like railway tracks to ports in different countries.
More than 60 countries have signed up showing interest in BRI projects. So far that China has invested 3.5 lakh crores. According to Morgan Stanley, China will spend Rs 96 lakh crore by 2027.
Mission: US team will reach Asia by December
According to reports, the American team has gone to Ecuador, Panama, and Colombia. Last week the team went to Ghana and Senegal. The US official, without naming any country, said that before the end of the year, the delegation would also visit several Asian countries.
Answer: Like China, there is no condition of seizure of airport or port.
The plan can be approved in the meeting of G-7 countries going to be held in December so that investment can start in January. US officials have said that in their plan they will not put any such condition which can be used to seize ports or airports etc.
Purpose: To give financial options to China's debt-ridden countries
The purpose of B3W is to provide an alternative to China's debt. In this, under financial assistance to developing countries, equity stake, loan guarantee, political insurance, grants, climate, health, digital development, technical expertise to decide gender equality, etc. will be given options.
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