At the 2021 G7 Summit, President Biden and G7 leaders announced their intent to develop a values-driven, high-impact, and transparent infrastructure partnership to meet the enormous infrastructure needs of low- and middle-income countries and support the United States’ and its allies’ economic and national security interests.
Over the past year, members of the Administration have traveled to hear directly from countries on how their infrastructure needs can be met; deepened coordination across the U.S Government and with the G7, honed infrastructure investment tools, and closed game-changing deals.
U.S. Chamber of Commerce Executive Vice President and Head of International Affairs Myron Brilliant said, “We welcome the announcement by G7 leaders to officially launch a Partnership for Global Infrastructure and Investment to mobilize much needed support for critical infrastructure needs in developing countries, including up to $200 billion in U.S. financing.
“Creating attractive financing options for building resilient infrastructure and investing in healthcare systems, energy security, clean energy infrastructure, and digital connectivity, while strengthening gender inclusion, will help low and middle-income countries stand up to the economic headwinds they have been facing.
“The U.S. Chamber and our members believe that scaling up public financing and promoting investor friendly policies in emerging economies will increase investor confidence and leverage private financing to help bridge the infrastructure gap and fuel economic growth. We look forward to working with the Biden Administration and our G7 partners to advance this initiative.”