G7 leaders meeting in southern Germany have detailed plans to raise $600bn in private and public funds to finance much-needed infrastructure, notably on the African continent, and to counter China's influence in the developing world via its older, multitrillion-dollar Belt and Road project.
US President Joe Biden and other G7 leaders relaunched the Partnership for Global Infrastructure and Investment (PGII), unveiled at last year's G7 talks, at their annual gathering held this year at Schloss Elmau in southern Germany.
