G-7 Leaders Announce $600 Billion Global Infrastructure Program to Take on Beijing’s Debt Trap Diplomacy

U.S. President Joe Biden (R-3) speaks at the "Global Infrastructure" side event as (L-R) European Union Council Commission President Ursula von der Leyen, Prime Minister of Japan Fumio Kishida, Canadian Prime Minister Justin Trudeau, German Chancellor Olaf Schulz, Prime Minister of Italy Mario Draghi, and EU Council President Charles Michel look on during the G-7 summit at Schloss Elmau near Garmisch-Partenkirchen, Germany, on June 26, 2022. Sean Gallup/Getty Images

Leaders from the Group of Seven (G-7) representing the world’s wealthiest democracies announced on June 26 that $600 billion would be allocated for global infrastructure programs to counter the Chinese regime’s expansion through its financing of enormous loans to poor countries for building infrastructure.

U.S. President Joe Biden and other G-7 leaders pledged to raise $600 billion by 2027 for the plan, known as the Partnership for Global Infrastructure and Investment, aimed at supporting the infrastructure needs of low- and middle-income countries.