G7 Summit Launches Partnership for Global Infrastructure and Investment
The G7 leaders have reaffirmed their commitment to the Partnership for Global Infrastructure and Investment (PGII), a flagship infrastructure initiative that aims to mobilize hundreds of billions of dollars in infrastructure financing for low- and middle-income countries. The United States has mobilized $30 billion through grants, federal financing, and leveraging private sector investments towards PGII. The US announced new PGII projects to build out transformative economic corridors and drive infrastructure investments that can boost and connect economic development across multiple countries and sectors. Private sector representatives from Citi and Global Infrastructure Partners highlighted key flagship projects worth $4 billion that demonstrate how PGII aims to mobilize the private sector as drivers of quality global infrastructure and investment.