Ver Angola


Joe Biden: partnership with Angola shows that the G7 plan is “more transparent” than the Chinese Silk Road

The President of the United States said this Thursday that a partnership established between two American companies and the Angolan Government proves that the infrastructure plan recently announced by the G7 is “more transparent” than the Chinese New Silk Road.


"Unlike China, the [infrastructure projects based on the plan agreed by the G7] will be carried out in a transparent manner and with very high standards. For example, the US Government has just facilitated new partnerships between two US companies and the Government of Angola to invest 2 billion dollars to develop a significant solar project in Angola," said Joe Biden.

The President of the United States of America (USA) was speaking at a press conference in Madrid, at the end of the summit of NATO Heads of State and Government, having addressed the infrastructure and investment plan agreed by the G7 countries that aims to respond to the Chinese New Silk Road project.

According to Joe Biden, the partnership will "help Angola meet its climate goals and meet its energy needs while creating new markets for American technologies and good jobs in Angola."

"As I've said many times, when I think of weather, I think of jobs," he underlined.

Regarding the plan agreed by the leaders of the G7, Biden said that it aims "to offer better options for developing or middle-income countries to respond to their most urgent needs in terms of infrastructure".

The US President also stated that the plan in question will raise "millions of dollars".

"It could possibly raise up to a billion dollars of money from the private sector (...) and 600 billion dollars in the next few years alone", he stressed.

On Sunday, Joe Biden announced that the G7 wants to move forward with an investment program for developing countries and mobilize 600 billion dollars.

Of that amount, Washington will mobilize 200 billion dollars, through public and private funds, over the next five years.

The US President highlighted that investments in infrastructure are crucial for sustainable development and for achieving "global stability".

Joe Biden added that developing countries often lack the infrastructure to help them deal with crises, such as the Covid-19 pandemic, "so they feel the impact, more strongly, and have a harder time recovering in a deeply connected world".

"This is not just a humanitarian concern," he continued. "It's an economic and security concern for all of us," he stressed.

The White House said in a statement that the "Collaboration on Global Infrastructure and Investment" initiative aims to promote the development of low and middle income countries, strengthen the global economy and the supply chain.

Biden emphasized that this plan focuses on areas such as health and health security, digital connectivity, gender equality, climate and energy security.

In the context of this plan, the US President mentioned the creation of a submarine cable, which will link Southeast Asia to the Middle East and Western Europe, which was awarded to the US telecommunications company SubCom.

The US also wants to mobilize 335 million dollars for investments to provide Internet and financial technology to countries in Africa, Asia and Latin America.

This macro-infrastructure plan was proposed by Biden at the G7 summit last year, which took place in the United Kingdom.

The plan is intended to be an alternative to the Chinese project "One Belt, One Road", which aims to revitalize the so-called Silk Road, modernizing infrastructure and telecommunications to improve connectivity between Asia and Europe.

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