Based on White HouseThe initiative, christened the “Collaboration for Global Infrastructure and Investment”, aims to promote the development of low- and middle-income countries, strengthen the global economy and supply chains.

This project was announced at a summit in Elmau (Germany) of the seven most developed countries in the world (United States of America., Germanthat great Britain, FranceYOthalia, Canada you Japan) and aims to mobilize hundreds of billions of dollars to create sustainable infrastructure in developing partner countries.

US President, Joe Bidenannounced that the country would allocate $200 billion to this initiative over five years, through funding from the federal government in collaboration with the private sector.

What is the purpose?

Among the pillars of the plan are combating the climate crisis and enhancing energy security by investing in low-emission infrastructure, battery manufacturing and clean energy development.

On the technology front, the initiative contemplates developing and expanding information and communication technologies by working with “trusted providers” that provide 5G and 6G, the White House said in a statement.

They are also considering investments in health systems, vaccines and medical equipment, as well as in surveillance and detection of new diseases, which include “safe laboratories” and prevention of future pandemics.

Competition to be strong

Within the framework of this plan, the US Government demonstrated that US telecommunications company SubCom won a $600 million tender to build an undersea cable that would link Southeast Asia with the Middle East and Western Europe.

The cable will be 17,000 kilometers long and will provide a high-speed connection from Singapore to France, across Egypt and the Horn of Africa.

The US also wants to mobilize $335 million in investment to provide internet and financial technology in countries in Africa, Asia and Latin America.

This macro infrastructure plan was proposed by Biden at last year’s G7 summit, which took place in the UK.

The plan wants to be an alternative to China’s “One Belt, One Road” project, which aims to revitalize the so-called Silk Road by modernizing infrastructure and telecommunications to improve connectivity between Asia and Europe.

(With information from EFE)