Group 7 investing in infrastructure
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| Group 7 investing in infrastructure |
US President Joe Biden said today, Sunday, June 26, that Group 7 aims to mobilize about $ 600 billion in a global infrastructure program.
Biden clarified that the United States will be responsible for pumping $200 billion over 5 years, while European Commission President Ursula von der Leyen pledged 300 billion euros.
The White House said the money will be raised through grants, federal funds, and by leveraging private sector investment.
The White House added that hundreds of billions of additional dollars could come from multilateral development banks, development finance institutions, sovereign wealth funds, and others.