LONDON -- At last weekend's G-7 summit in Cornwall, England, leaders agreed on a new infrastructure investment partnership with a focus on "clean and green growth" in developing countries -- a plan that the group of rich democracies hopes to frame as an alternative to China's Belt and Road initiative. The leaders' communique said the G-7 countries will "step change" their approach to infrastructure financing. Experts say the partnership's success lies in mobilizing private finance and ensuring high standards, but criticized the announcement for its lack of detail.
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