World leaders at the Group of Seven Summit in Schloss Elmau, Germany, on June 26 formally launched a new initiative to mobilize $600 billion in investments in a wide range of transportation, energy, healthcare and telecommunications infrastructure projects in low- and middle-income countries.
The Partnership for Global Infrastructure and Investment is a G7 initiative first envisioned at the 2021 summit in Cornwall. It aims to boost investments that will enable developing nations to build much-needed construction projects without being overwhelmed by debt.