BERLIN: The G7 nations have decided to replace China’s ‘One Road One Belt’ project. G7 countries will invest $ 600 billion over five years. The G7 summit also decided to stop importing gold from Russia.
The G7 countries’ decision is aimed at preventing China from infiltrating underdeveloped and developing countries through the Belt and Roads project. At the G7 summit in Germany, which began yesterday, the major countries agreed to the new plan.
The project is called ‘Partnership for Global Infrastructure and Investment’. US President Joe Biden has announced that by the end of 2027, US $ 600 billion worth of projects will be implemented through public-private partnerships.
The G7 summit is also set to put pressure on Russia, which continues to occupy Ukraine. The main decision was to block the import of gold from Russia. Ukrainian President Vladimir Selensky virtually addressed the G7 summit. Selensky called for more weapons. Arriving at the summit, Indian Prime Minister Narendra Modi is meeting various national leaders today.