He is launching a plan to finance infrastructure works in poor countries and emerging economies. The plan – Build Back Better World or B3W – is to compete with the New Silk Road, through which China aims to improve trade and economic relations with Asian and African countries, through the construction of major infrastructure works, including ports, railways and roads, and loans.
According to the White House, B3W will channel hundreds of billions of dollars into infrastructure investments in poorer countries around the world in the coming years, with a focus on climate, health, digital technology and the fight against inequality. The money should also help to recover from the corona impact.
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