G7 leaders sit around a table during their summit at the Carbis Bay Hotel in Carbis Bay, St. Ives, Cornwall, England, Friday, June 11, 2021. CARBIS BAY, England: The Group of Seven rich nations will announce on Saturday a new global infrastructure plan as a response to China's belt and road initiative, a senior official in US President Joe Biden's administration said.
More than 100 countries have signed agreements with China to cooperate in BRI projects like railways, ports, highways and other infrastructure.According to a Refinitiv database, as of mid-last year, more than 2,600 projects at a cost of US$3.7 trillion were linked to the initiative, although the Chinese foreign ministry said last June that about 20 per cent of projects had been seriously affected by the COVID-19 pandemic.
"So tomorrow we’ll be announcing ‘build back better for the world,’ an ambitious new global infrastructure initiative with our G7 partners that won’t just be an alternative to the B and I ," the official said.READ: China rebukes Australia for 'Cold War mentality' after Belt and Road accords cancelled
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