G7 summit: Spending plan to rival China adopted
G7 leaders seeking to rival China have adopted a plan to support lower- and middle-income countries in building better infrastructure.
President Joe Biden said he wanted the US-backed Build Back Better World (B3W) plan to be a higher-quality alternative to a similar Chinese programme.
In a statement at their summit in the English county of Cornwall, the G7 leaders said they would offer a "values-driven, high-standard and transparent" partnership.
However, details of how the G7 plan will be financed remain unclear. German Chancellor Angela Merkel said the group was not yet at a stage to release financing for its initiative.
The measures include cutting the time needed to develop and license vaccines and treatments for Covid-19 to under 100 days. The plan will be officially unveiled on Sunday, alongside the final summit communique.
The Americans see Saturday's session at the G7 as being about challenging the rise of Chinese influence around the world. Beijing's Belt-and-Road initiative, which has seen billions of dollars poured into developing countries, must be countered by the Western democracies.
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