The G7 countries aim to provide a total of $600 billion to the Partnership for Global Infrastructure and Investment.
The United States will contribute $200 billion over five years to a G7 infrastructure partnership, President Biden announced Sunday.The G7 countries aim to provide $600 billion by 2027 to the Partnership for Global Infrastructure and Investment, which seeks to meet the infrastructure needs of low- and middle-income countries.
The partnership focuses on four areas: health, digital connectivity, gender equality and climate and energy security. Under the partnership, the U.S. and its G7 partners are investing in a new industrial-scale vaccine manufacturing facility in Senegal to produce COVID-19 and other vaccines for the region, Biden said.
Biden also announced that an American company will build a small modular reactor plant in Romania as part of the investment in energy security. Europe's reliance on Russia for energy has been an issue since the country invaded Ukraine.
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