{"id":3298,"date":"2024-06-14T00:07:11","date_gmt":"2024-06-14T00:07:11","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=3298"},"modified":"2024-06-14T00:07:11","modified_gmt":"2024-06-14T00:07:11","slug":"g7-build-back-better-world-initiative","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/g7-build-back-better-world-initiative\/","title":{"rendered":"G7 – Build Back Better World Initiative"},"content":{"rendered":"

At the recent 47th summit, the G7 (Group of Seven) Countries proposed a Build Back Better World (B3W) initiative to counter China’s Belt and Road Initiative (BRI).<\/p>\n

About B3W:<\/u><\/strong><\/p>\n

Goal: To address the Infrastructure<\/a> Investment<\/a> gap in developing and low-income countries, which China is increasingly capturing through 2,600 BRI projects.<\/p>\n

This infrastructure plan is led by the United States.<\/p>\n

The B3W initiative will provide a transparent infrastructure PARTNERSHIP<\/a> to assist developing countries in meeting their $40 trillion infrastructure needs by 2035.<\/p>\n

It requires hundreds of billions of dollars to be spent in cooperation with the private sector while complying with Climate<\/a> standards and labor practices.<\/p>\n

About Chinas BRI:<\/u><\/strong><\/p>\n

It was established in 2013.<\/p>\n

It is a multibillion-dollar initiative that aims to connect Southeast Asia, Central Asia, the Gulf region, Africa, and Europe via land and sea routes.<\/p>\n

It entails development and investment initiatives that would span Asia, Europe, and beyond.<\/p>\n

Over 100 countries have signed bilateral agreements with China to collaborate on BRI projects such as railways, Ports<\/a>, highways, and other infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"

At the recent 47th summit, the G7 (Group of Seven) Countries proposed a Build Back Better World (B3W) initiative to counter China’s Belt and Road Initiative (BRI). About B3W: Goal: To address the Infrastructure Investment gap in developing and low-income countries, which China is increasingly capturing through 2,600 BRI projects. This infrastructure plan is led … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595],"tags":[836],"class_list":["post-3298","post","type-post","status-publish","format-standard","hentry","category-current-affairs","tag-15-07-21"],"yoast_head":"\nG7 - Build Back Better World Initiative - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/14\/g7-build-back-better-world-initiative\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"G7 - Build Back Better World Initiative\" \/>\n<meta property=\"og:description\" content=\"At the recent 47th summit, the G7 (Group of Seven) Countries proposed a Build Back Better World (B3W) initiative to counter China’s Belt and Road Initiative (BRI). About B3W: Goal: To address the Infrastructure Investment gap in developing and low-income countries, which China is increasingly capturing through 2,600 BRI projects. This infrastructure plan is led ... 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