G7 leaders have detailed plans to mobilise $600bn in funding for the developing world in a move seen as a counter to China’s Belt and Road plan.
The Partnership for Global Infrastructure and Investment (PGII) relaunches a scheme unveiled at last year’s G7 talks in England.
US President Joe Biden said the plan would deliver returns for everyone.
China’s multi-trillion dollar infrastructure initiative is criticised for hitting nations with too much debt.
Research on Chinese projects abroad points to other major problems like corruption, labor violations and environmental risks
The enormous infrastructure development effort could lock in heat-trapping greenhouse emissions for decades.