Skip to main content

U.S. eyes January rollout of first projects to counter China's Belt and Road -official




By Andrea Shalal


WASHINGTON, Nov 8 (Reuters) - The United States plans to invest in five to 10 large infrastructure projects around the world in January as part of a broader Group of Seven program to counter China's Belt and Road Initiative, a senior U.S. official said on Monday.

A U.S. delegation led by President Joe Biden's deputy national security adviser, Daleep Singh, identified at least 10 promising projects in Senegal and Ghana during a series of "listening tours" last week, the official said.

Officials are meeting government and private-sector leaders as they hunt for projects to be funded under the Build Back Better World (B3W) initiative launched by the G7 rich democracies in June. Plans could be finalized during a G7 meeting in December, the official said.

A U.S. delegation visited Ecuador, Panama and Colombia during a similar tour in early October, with another slated to visit Asia before year-end, the official said, without naming any specific Asian countries.

The G7 B3W initiative is aimed at partially meeting the $40 trillion in infrastructure investment that developing countries will need by 2035 and providing an alternative to problematic lending practices by China, officials have said.

The United States will offer developing countries "the full range" of U.S. financial tools, including equity stakes, loan guarantees, political insurance, grants and technical expertise to focus on climate, health, digital technology and gender equality, the official told reporters.

The effort is seeking to "identify flagship projects that could launch by the start of next year," the official said.

Singh was joined in Africa by Alexia Latortue, deputy chief executive officer of the Millennium Challenge Corp, and Travis Adkins, deputy assistant administrator for Africa at the U.S. International Development Finance Corp, said Emily Horne, spokesperson for the White House National Security Council.

Biden sought to advance the initiative during a meeting on the sidelines of the COP26 UN climate conference with European Commission President Ursula von der Leyen, British Prime Minister Boris Johnson and other G7 partners, she added.

The administration official said senior officials in Senegal and Ghana welcomed U.S. assurances that unlike China, the world's largest creditor, the United States would not require non-disclosure agreements or collateral agreements that could result in later seizure of ports or airports.

Projects discussed included setting up a possible vaccine manufacturing hub for West Africa in Senegal, bolstering renewable energy supplies, boosting lending to women-owned businesses, and narrowing the digital divide.

When asked about the project during a routine press briefing on Tuesday, Chinese foreign ministry spokesperson Wang Wenbin said there was "enormous space" for infrastructure cooperation.

"Different initiatives don't offset or replace each other," Wang told reporters.

"The world needs efforts to build bridges...we need to advance connectivity, not decoupling."

Reporting by Andrea Shalal; additional reporting by Josh Horwitz in Beijing; Editing by Cynthia Osterman, Peter Cooney and Raju Gopalakrishnan

https://www.reuters.com/world/us-eyes-january-rollout-first-projects-counter-chinas-belt-road-official-2021-11-08/

Comments

Popular posts from this blog

SSG Commando Muddassir Iqbal of Pakistan Army

“ Commando Muddassir Iqbal was part of the team who conducted Army Public School operation on 16 December 2014. In this video he reveals that he along with other commandos was ordered to kill the innocent children inside school, when asked why should they kill children after killing all the terrorist he was told that it would be a chance to defame Taliban and get nation on the side. He and all other commandos killed children and later Taliban was blamed. Muddassir Iqbal has deserted the military and now he is  with mujahedeen somewhere in AF PAK border area” For authenticity of  this tape journalists can easy reach to his home town to interview his family members or   ISPR as he reveals his army service number” Asalam o Alaikum: My name is Muddassir Iqbal. My father’s name is Naimat Ali. I belong to Sialkot divison (Punjab province), my village is Shamsher Poor and district, tehsil and post office  Narowal. Unfortunately I was working in Pakistan army. I feel embarrassed to tell yo

RWR Advisory: Belt and Road at a Glance

This edition covers developments from March 12 - March 26..  Belt and Road at a Glance   Subscribe to the Belt and Road Monitor Top Developments China National Machinery Industry Corporation, commonly known as Sinomach, has agreed to  build  a $845 million, 255-mile railway across  Iran , building upon a sustained period of growth for Chinese investment in Iran that accelerated after Xi Jinping’s state visit to the country in January 2016. The railway will link the cities of Tehran, Hamedan and Sanandaj. China Civil Engineering Construction, a subsidiary of CRCC, is currently also  building  a 263-km railway line from Kermanshah to Khosravi. According to Chinese entrepreneur Lin Zuoru, who  owns  factories in Iran, “Iran is at the center of everything.”On March 23, China’s Ministry of Commerce announced that foreign direct investment by Chinese companies in 50 Belt and Road countries fell by 30.9% year-on-year. While the Ministry stated that this number covers investment across al

CPEC Jobs in Pakistan, salary details

JOBS...نوکریاں چائنہ کمپنی میں Please help the deserving persons... Salary: Salary package in China–Pakistan Economic Corridor (CPEC) in these 300,000 jobs shall be on daily wages. The details of the daily wages are as follows; Welder: Rs. 1,700 daily Heavy Duty Driver: Rs. 1,700 daily Mason: Rs. 1,500 daily Helper: Rs. 850 daily Electrician: Rs. 1,700 daily Surveyor: Rs. 2,500 daily Security Guard: Rs. 1,600 daily Bulldozer operator: Rs. 2,200 daily Concrete mixer machine operator: Rs. 2,000 daily Roller operator: Rs. 2,000 daily Steel fixer: Rs. 2,200 daily Iron Shuttering fixer: Rs. 1,800 daily Account clerk: Rs. 2,200 daily Carpenter: Rs. 1,700 daily Light duty driver: Rs. 1,700 daily Labour: Rs. 900 daily Para Engine mechanic: Rs. 1,700 daily Pipe fitter: Rs. 1,700 daily Storekeeper: Rs. 1,700 daily Office boy: Rs. 1,200 daily Excavator operator: Rs. 2,200 daily Shovel operator: Rs. 2,200 daily Computer operator: Rs. 2,200 daily Security Supervisor: Rs.