G7 to invest $600 billion for infrastructure development of developing countries

June 27, Bavaria: The meeting of G7 Countries has decided to provide grants and investments worth $600 billion for the infrastructure development of developing countries.

The Chairperson of the European Commission, Ursula von der Leyen, has said the grant would help in post-Covide-19 rebuilding and in lessening the impact of Russia’s invasion of Ukraine in the Developing Countries.

US President Joe Biden has said that among the total amount, the US would provide $200 billion.

The US President added that the grant would help deliver to the people of both developing and developed countries in the long run.

The three-day summit being held in Germany’s Bavaria is expected to pass tougher sanctions against Russia.