U.S. President Joe Biden and the other G7 leaders launched Partnership for Global Infrastructure and Investment, pledging to raise $600 billion in private and public funds by 2027 to finance infrastructure projects in developing countries.
Speaking in Germany, Biden said the U.S. alone would mobilize $200 billion in grants, federal funds, and private investment to support projects that address climate change as well as improve global health, gender equity, and digital infrastructure.
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