Photo: SAUL LOEB / AFP / Getty Images
US President Joe Biden made the announcement on US investments in Brazil, Honduras and India at an event in the G52 on the Indonesian island of Bali with the President of the European Commission, Ursula von der Leyen, and with her Indonesian counterpart, Joko Widodo.
One of the flagship projects will will be developed in Honduras, where solar panels will be installed using US equipment.
It will be possible thanks to a loan guarantee of 52 million dollars that the Export-Import Bank of the USA, an export credit agency, will give the JP Morgan firm that will end up financing the purchase by Banco Atlantida de Honduras of the necessary equipment for the solar panels.
Also, Biden announced an investment of 52 million for part of the US Development Finance Corporation (DFC) so that plants can be developed to transform some key minerals, such as cobalt and nickel, in Brazil.
These minerals are key to the manufacture of electric vehicles, solar panels and other renewable energies.
In addition, Biden announced another DFC investment of about 30 millions of dollars in health infrastructure in India.
In that The package will include money for the expansion of a chain of eye clinics and for an Indian company that makes affordable feminine hygiene products.
Finally, Biden announced other investments to help Indonesia accelerate its transition to clean energy and other projects to increase internet access in Liberia.
The ads are part of the Associate for Global Infrastructure and Investment (PGII), an initiative led by the G7 to invest in infrastructure in impoverished countries and which seeks to counteract the well-known Chinese infrastructure macroproject like the New Silk Roads.
Regarding the Association for Global Infrastructure and Investment, Von der Leyen stated that this initiative will allow its signatories to join forces to respond to the “very rising demand” for renewable energy, to which the countries of the global South with “abundance of resources and clean energy potential” can contribute.
From the European bloc, The financial contribution will come from its Global Gateway Strategy , which promotes sustainable and quality projects for people and the planet and foresees 52,11 million euros in investments in third countries in the next five years, although von der Leyen did not specify a specific figure.
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