MOSCOW: US President Joe Biden on Sunday said that the new infrastructure initiative of the G7 bloc would be a better option for the world's developing countries than China's Belt and Road Initiative.
The Chinese government adopted the infrastructure development strategy in 2013 to expand the country's economic and political influence through financing multiple infrastructure and development projects in nearly 70 countries and international organizations.
"We also made a momentous commitment at the G7 to help meet the more than $40-trillion need that exists for infrastructure in the developing world. I put forward an idea that we named the Build Back Better World Partnership... China has its Belt and Road Initiative, and we think that there's a much more equitable way to provide for the needs of countries around the world," Biden told a press conference. (UNI)