**US and Allies to Announce Global Infrastructure Plan to Rival China’s Belt and Road**
WASHINGTON, Aug 6 (Reuters) – The United States and its allies are set to announce a global infrastructure plan on Friday that aims to rival China’s Belt and Road Initiative, a source familiar with the matter told Reuters.
The plan, known as the Build Back Better World (B3W), will be announced at a meeting of Group of Seven leaders in Cornwall, England, the source said on condition of anonymity. It is expected to focus on climate-friendly projects in developing countries.
The B3W initiative comes as the United States and its allies seek to counter China’s growing economic and geopolitical influence. China’s Belt and Road Initiative, launched in 2013, has invested billions of dollars in infrastructure projects in more than 100 countries, giving Beijing a major foothold in these regions.
The B3W plan is expected to be smaller in scale than China’s Belt and Road Initiative, but it will focus on projects that meet high environmental, social, and governance standards. The projects will also be designed to be financially sustainable and to promote economic growth in the countries where they are implemented.
The Biden administration has made countering China’s influence a top priority. In March, Secretary of State Antony Blinken said that the United States and its allies need to offer a .
