Officials hold meetings with government, private sector leaders as they explore projects
Washington:
The United States plans to invest in five to 10 major infrastructure projects around the world in January, a senior US official said on Monday, a broad group to counter China’s Belt and Road Initiative. As part of the intake initiative.
A US delegation led by President Joe Biden’s deputy national security adviser, Dalip Singh, last week identified at least 10 promising projects in Senegal and Ghana during the latest in a series of “listening tours”, the official said.
Officials are meeting with government and private sector leaders as they look for projects to be funded under the Build Back Better World (B3W) initiative launched by the G7 prosperous democracies in June. The official said the plans could be finalized during the G-7 meeting in December.
A US delegation visited Ecuador, Panama and Colombia during similar visits in early October, with another to visit Asia before the end of the year, the official said without naming any specific Asian countries.
Officials have said the G7 B3W initiative aims to help developing countries reduce $40 trillion in infrastructure investment by 2035 and provide an alternative to problematic lending practices by China.
The official told reporters that the United States will offer a “full range” of US financial instruments, including equity stakes, loan guarantees, political insurance, grants and technical expertise, to developing countries with a focus on climate, health, digital technology and gender equality. will offer.
“Efforts are on to identify the major projects which may start by early next year,” the official said.
White House National Security Council spokeswoman Emily Horn said Singh was joined in Africa by Travis Adkins, deputy chief executive officer of Millennium Challenge Corp. in Africa and deputy assistant administrator for Africa at US International Development Finance Corp.
He said Biden sought to take the initiative forward during a meeting on the sidelines of the COP26 UN climate summit with European Commission President Ursula von der Leyen, British Prime Minister Boris Johnson and other G7 partners.
The administration official said senior officials in Senegal and Ghana welcomed US assurances that unlike China, the world’s biggest creditor, the United States would not require non-disclosure agreements or collateral agreements that would result in ports or airports. Bases may be confiscated.
Projects discussed include setting up a potential vaccine manufacturing center for West Africa in Senegal, promoting renewable energy supplies, lending to women-owned businesses, and bridging the digital divide.
(Except for the title, this story has not been edited by NDTV staff and is published from a syndicated feed.)
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