Haberler      English      العربية      Pусский         Kurdî      Türkçe Delivering News and Insights Around the World Keltis
  En.Haberler.Com - Latest News
SEARCH IN NEWS:
  HOME PAGE 09/08/2022 20:53 
26.06.2022 20:57 News >> G7 Aims To Mobilize $600B For Global Infrastructure Program By 2027: Biden

G7 Aims To Mobilize $600B For Global Infrastructure Program By 2027: Biden

US president announces project to rival China's Belt and Road Project amid G7 summit.

US President Joe Biden announced on Sunday that the G7 aims to mobilize $600 billion by 2027 for a global infrastructure program.
"These strategic investments are areas of critical importance to sustainable development, and our shared global stability, health and health security, digital connectivity, gender equality and equity, climate, and energy security," he said in a press conference in the castle of Elmau in the Bavarian Alps.
This new infrastructure initiative aimed at low- and middle-income countries against the Belt and Road Project, China's "modern silk road," the budget of which is expected to reach $10 trillion.
Biden pointed to the infrastructure projects underway in these areas, saying that critical investments would be made in the health sector in order to prepare for future pandemics.
"The US together with the G7 partners and the World Bank, are invested in a new industrial-scale vaccine manufacturing facility in Senegal," he said, adding that when the facility is complete, it would have the potential to produce "hundreds of millions of doses of vaccine annually for COVID-19 and other diseases."
"The US, together with the G7 partners and the World Bank, are invested in a new industrial-scale vaccine manufacturing facility in Senegal. When complete, it will have the potential of producing hundreds of millions of doses of vaccines annually for COVID-19 and other diseases," he said.
This investment that will also enhance global vaccine supplies, he noted.
On digital connectivity, Biden underlined the importance of secure information and communications technologies being available to the public.
"Our economy increasingly depends on people's ability to connect to secure information and communications technologies we need to strengthen the use of trusted technologies," he said.
This program is mobilizing $335 million in private capital to supply secure network equipment in Africa, Asia, and Latin America, he explained.
Pointing out Washington's support for a successful bid by American company SubCom to lay a global subsea telecommunications cable network in a $600 million contract, he said: "This cable will stretch from Southeast Asia through the Middle East, in the Horn of Africa to Europe."
He also underlined that the entire world was feeling the impact of Russia-Ukraine war on energy markets.
"We need worldwide effort to invest in transformative clean energy projects to ensure that critical infrastructure is resilient to changing climate," he said.
Critical materials are necessary for clean energy transition, he noted, saying that, for example, the US government just facilitated a new partnership between two American firms and the government of Angola to invest $2 billion in building new solar projects in the Southern African nation. -



        Latest News
UPDATE- 'Russian Aggression On Ukraine Undermines Already Fragile Trust Of West' 29 minutes ago...
Ukraine war will bring about 'new bloc division of Europe and the world,' warns Slovenian President Borut Pahor.
Daesh/ISIS 'Significantly Increased' Drone Use In Past Year, UN Warns 29 minutes ago...
Terror group has been able to maintain drone capabilities partly due to ‘decentralized internal structure,’ says UN’s top official for counter terrorism.
Turkish President Inspects Akkuyu Nuclear Power Plant Construction 44 minutes ago...
Recep Tayyip Erdogan receives information from authorities regarding ongoing project.
Raging Forest Fires In Canada Cut Off Access To Towns As Helicopters Deliver Food 14 minutes ago...
States of emergency declared, officials pray for rain.
Serbian Forward Bjelica Returns To Istanbul's Fenerbahce Beko After 7 Years 14 minutes ago...
Nemanja Bjelica signs 2 year contract with Turkish basketball club.

 
      Top News
Biden Signs Legislation To Boost US Chip Production, Raise Investment In Science Biden Signs Legislation To Boost US Chip Production, Raise Investment In Science
US Stocks Open Lower, Nasdaq Down 1% As Productivity Falls US Stocks Open Lower, Nasdaq Down 1% As Productivity Falls
UPDATE- Defense Wide-Ranging, Cannot Just Be Carried Out Through Military Means: Turkish Minister UPDATE- Defense Wide-Ranging, Cannot Just Be Carried Out Through Military Means: Turkish Minister
Israeli Forces Kill 3 Palestinians In Nablus Israeli Forces Kill 3 Palestinians In Nablus
Defense Wide-Ranging, Cannot Just Be Carried Out Through Military Means: Turkish Minister Defense Wide-Ranging, Cannot Just Be Carried Out Through Military Means: Turkish Minister
Dutch Government Under Fire For Permanent Coronavirus Law Proposal Dutch Government Under Fire For Permanent Coronavirus Law Proposal
Bosnia Herzegovina Marks Birthday Of Pivotal Leader Alija Izetbegovic Bosnia Herzegovina Marks Birthday Of Pivotal Leader Alija Izetbegovic
Indigenous Peoples Worldwide Live In Harsh Conditions Indigenous Peoples Worldwide Live In Harsh Conditions
Turkish Forces 'Neutralize' 2 PKK Terrorists In Northern Iraq Turkish Forces 'Neutralize' 2 PKK Terrorists In Northern Iraq
UN Chief Welcomes Cease-Fire In Gaza UN Chief Welcomes Cease-Fire In Gaza