The White House has recently stated that as a part of the Partnership for Global Infrastructure and Investment (PGII), the federal government agency of the United States is ready to invest over USD 15 million in the health infrastructure of India. The International Development Finance Corporation (DFC) will invest USD 15 million to support the growth of a network of eye clinics that perform corrective surgery on underprivileged people and a social enterprise that produces low-cost feminine hygiene products in India.
In its fact sheet, the White House mentioned that the DFC will invest more than $15 million in India’s health infrastructure, including funding for the growth of a network of eye clinics that perform corrective surgery on underprivileged people and a social enterprise there that produces safe and reasonably priced feminine hygiene products for underprivileged women in rural areas.
At the G20 in Bali on Tuesday, leaders of the US, Indonesia, and the European Union (EU) announced the PGII, which will aim to boost investment toward quality infrastructure to strengthen the economy and support low and middle-income countries across the globe.
The investments of PGII look forward to building and leaving a lasting positive imprint for its partner countries.
The fact sheet of the White House also read that US President Biden, President Widodo of Indonesia, and President Von der Leyen of the European Commission co-hosted a group of G20 leaders at the Bali, Indonesia, the summit in 2022 to show their shared commitment to deepening engagement under the Partnership for Global Infrastructure and Investment (PGII) to speed up investment in high-quality infrastructure in low- and middle-income countries worldwide and strengthen the global economy.
In context with the theme of G20 2022, which says ‘Recover Together, Recover Stronger’, the investments of PGII look forward to building and leaving a lasting positive imprint for its partner countries so they can strengthen the flexibility of other communities as well as the economic security of the partner companies along with supply chains of the world. This will also encourage sustainable development.
In order to highlight PGII cooperation and support among like-minded partners globally, Biden, President Widodo, and President Von der Leyen met with other G20 leaders and ministers from Argentina, Germany, India, Japan Canada, France, the United Kingdom, the Republic of Korea, and Senegal on the sidelines of the Summit.
The White House mentioned that the DFC will invest more than $15 million in India’s health infrastructure.
According to the fact sheet of the White House, the leaders unveiled various ways to finance the reframing of infrastructure with the cooperation of PGII partners and to deploy the private sector so it can act as a driver of quality and investment in the global infrastructure. This ceremony comes at the conclusion of a week in which President Biden made several PGII project announcements, including ones at COP, the ASEAN Summit, and a one-on-one visit with the G20 host country, Indonesia.
President Biden provided an update on the status and effects of PGII so far in his remarks. Providing specific examples of how the United States and its allies are collaborating to mobilize money to provide high-quality infrastructure and sustainable development, he revealed new projects and followed up on a number of those announced in June this year at PGII’s G7 formal launch.
Quality infrastructure has a crucial role to play in the development of countries and their outcomes, economic and national security, worldwide supply chains, health and well-being of the citizens as well as the planet, along with people around the world.