US plans to deploy first plans to counter China Belt and Highway in January – official


WASHINGTON, Nov. 8 (Reuters) – The United States plans to invest in five to ten major infrastructure projects around the world in January as part of a larger Group of Seven initiative to counter the Chinese initiative. ” Belt and Road, “a senior US official said on Monday. .

A US delegation led by President Joe Biden’s Deputy National Security Advisor Daleep Singh identified at least 10 promising projects in Senegal and Ghana during the latest in a series of “listening tours” last week , said the official.

Officials meet with government and private sector leaders as they search for projects to fund under the Build Back Better World (B3W) initiative launched by wealthy G7 democracies in June. The plans could be finalized at a G7 meeting in December, the official said.

A US delegation visited Ecuador, Panama and Colombia on a similar tour in early October, with another scheduled to visit Asia before the end of the year, the official said, without naming specific Asian countries. .

The G7 B3W initiative aims to reduce the $ 40 trillion in infrastructure investment that developing countries will need by 2035 and provide an alternative to China’s problematic lending practices, officials said. .

The United States will provide developing countries with the “full range” of American financial tools, including equity investments, loan guarantees, political insurance, grants and technical expertise to focus on climate, health, digital technology and gender equality, the official told reporters.

The effort aims to “identify flagship projects that could be launched by early next year,” the official said.

Singh was joined in Africa by Alexia Latortue, deputy managing director of Millennium Challenge Corp, and Travis Adkins, deputy deputy administrator for Africa at the US International Development Finance Corp, said Emily Horne, spokesperson for the National Security Council. of the White House.

Biden sought to push the initiative forward during a meeting on the sidelines of the UN climate conference COP26 with European Commission President Ursula von der Leyen, British Prime Minister Boris Johnson and other partners in the United Nations. G7, she added.

The administration official said senior officials in Senegal and Ghana welcome US assurances that, unlike China, the world’s largest creditor, the US will not demand no deals. -Disclosure or warranty agreements that could result in the subsequent seizure of ports or airports.

Projects discussed included establishing a possible West African vaccine manufacturing center in Senegal, strengthening renewable energy supply, increasing loans to women-owned businesses and reducing of the digital divide.

Reporting by Andrea Shalal; Editing by Cynthia Osterman and Peter Cooney

Our standards: Thomson Reuters Trust Principles.

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