G7 backs India-Middle East-Europe Economic Corridor and other key projects.
The Group of Seven (G7) nations have committed to supporting significant infrastructure projects, including the India-Middle East-Europe Economic Corridor (IMEC), as highlighted in their joint statement following the conclusion of their three-day summit in Italy.
The G7’s strategy focuses on enhancing economic corridors to boost infrastructure and investments. Key projects mentioned include the Lobito, Luzon, Middle, and India-Middle East-Europe corridors. The group also intends to build upon existing initiatives such as the EU Global Gateway, the Great Green Wall, and Italy’s Mattei Plan for Africa.
“We will further promote concrete G7 PGII initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment,” the White House stated. This includes deepening coordination and financing for the Lobito, Luzon, Middle, and India-Middle East-Europe Economic Corridors, leveraging the EU Global Gateway, the Great Green Wall Initiative, and Italy’s Mattei Plan for Africa.
Addressing relations with China, the G7 clarified that their actions are not aimed at harming China’s economic development but at protecting businesses from unfair practices. The G7 urged China to enhance efforts in promoting international peace, security, and addressing global issues such as climate change, biodiversity, and pollution. They called for cooperation in tackling illicit synthetic drug trafficking, ensuring global macroeconomic stability, supporting global health security, and addressing the debt sustainability and financing needs of vulnerable countries.
